john hancock funds ii · 2020-06-02 · hong kong - 10.6% chong hing bank, ltd. (3.876% to 7-26-22,...

Asia Pacific Total Return Bond FundShares orPrincipalAmount Value

FOREIGN GOVERNMENT OBLIGATIONS - 40.0%India - 1.1%Republic of India

7.590%, 01/11/2026 INR 150,000,000 $ 2,147,611Indonesia - 17.9%Republic of Indonesia

3.700%, 10/30/2049 $ 1,500,000 1,539,2393.850%, 10/15/2030 2,513,000 2,776,277

4.750%, 02/11/2029 to 07/18/2047 5,000,000 5,783,6546.125%, 05/15/2028 IDR 120,000,000,000 7,608,6636.625%, 05/15/2033 86,945,000,000 5,328,406

7.000%, 05/15/2027 to 09/15/2030 74,000,000,000 4,955,0358.375%, 03/15/2024 to 04/15/2039 113,000,000,000 8,014,437

36,005,711Malaysia - 7.1%Government of Malaysia

3.418%, 08/15/2022 MYR 7,500,000 1,769,0313.757%, 04/20/2023 26,000,000 6,217,5154.181%, 07/15/2024 18,000,000 4,416,6224.392%, 04/15/2026 8,000,000 2,013,723

14,416,891Philippines - 1.7%Republic of the Philippines

3.625%, 09/09/2025 PHP 42,233,286 867,3733.900%, 11/26/2022 131,000,000 2,573,742

3,441,115Singapore - 1.1%Republic of Singapore

2.750%, 07/01/2023 SGD 3,000,000 2,281,877South Korea - 9.1%Export-Import Bank of Korea

6.200%, 08/07/2021 INR 137,000,000 1,813,824Republic of Korea

1.875%, 06/10/2029 KRW 7,000,000,000 5,881,7162.000%, 09/10/2022 4,800,000,000 3,978,7522.375%, 03/10/2023 8,000,000,000 6,723,733

18,398,025Thailand - 2.0%Kingdom of Thailand

1.200%, 07/14/2021 THB 129,865,200 3,953,660TOTAL FOREIGN GOVERNMENT OBLIGATIONS(Cost $83,501,486) $ 80,644,890

CORPORATE BONDS - 60.3%China - 8.4%21Vianet Group, Inc.

7.875%, 10/15/2021 $ 2,000,000 1,967,510China Aoyuan Group, Ltd.

7.950%, 09/07/2021 2,500,000 2,537,523China Hongqiao Group, Ltd.

7.125%, 07/22/2022 1,700,000 1,557,965China SCE Group Holdings, Ltd.

7.375%, 04/09/2024 3,000,000 2,850,862Logan Property Holdings Company, Ltd.

5.750%, 01/14/2025 1,500,000 1,462,930Longfor Group Holdings, Ltd.

3.950%, 09/16/2029 2,400,000 2,421,041Yuzhou Properties Company, Ltd.

8.300%, 05/27/2025 1,300,000 1,194,958Zhenro Properties Group, Ltd.

8.650%, 01/21/2023 3,000,000 3,000,62216,993,411

Hong Kong - 16.7%AIA Group, Ltd.

4.875%, 03/11/2044 1,488,000 1,800,565

Asia Pacific Total Return Bond Fund (continued)Shares orPrincipalAmount Value

CORPORATE BONDS (continued)Hong Kong (continued)Bangkok Bank PCL (3.733% to 9-25-29,

then 5 Year CMT + 1.900%)09/25/2034 (A) $ 1,053,000 $ 992,497

Chong Hing Bank, Ltd. (3.876% to7-26-22, then 5 Year CMT + 2.030%)07/26/2027 3,000,000 2,903,085

CMB Wing Lung Bank, Ltd. (3.750% to11-22-22, then 5 Year CMT +1.750%)11/22/2027 3,000,000 3,052,770

CNAC HK Finbridge Company, Ltd.3.875%, 06/19/2029 3,000,000 3,153,888

Coastal Emerald, Ltd. (4.300% to 8-1-24,then 5 Year CMT + 7.445%)08/01/2024 (B) 3,000,000 3,001,872

Concord New Energy Group, Ltd.7.900%, 01/23/2021 3,000,000 2,701,355

Far East Horizon, Ltd. (3 month LIBOR+ 2.000%)3.436%, 07/03/2021 (C) 2,300,000 2,259,798

GET International InvestmentHoldings, Ltd.3.750%, 07/18/2022 1,151,000 1,148,166

Kasikornbank PCL (3.343% to 10-2-26,then 5 Year CMT + 1.700%)10/02/2031 1,700,000 1,597,244

Shanghai Commercial Bank, Ltd.(3.750% to 11-29-22, then 5 YearCMT + 1.705%)11/29/2027 3,000,000 3,013,740

Weichai International Hong Kong EnergyGroup Company, Ltd. (3.750% to9-14-22, then 5 Year CMT + 6.084%)09/14/2022 (B) 2,730,000 2,710,890

Yingde Gases Investment, Ltd.6.250%, 01/19/2023 (A) 2,800,000 2,858,133

Zoomlion HK SPV Company, Ltd.6.125%, 12/20/2022 2,500,000 2,500,000

33,694,003India - 6.1%Greenko Investment Company

4.875%, 08/16/2023 2,100,000 2,000,860Indian Railway Finance Corp., Ltd.

3.950%, 02/13/2050 (A) 2,611,000 2,438,2453.950%, 02/13/2050 2,000,000 1,867,671

NTPC, Ltd.3.750%, 04/03/2024 1,000,000 1,025,9764.250%, 02/26/2026 2,000,000 2,094,253

Oil India, Ltd.5.125%, 02/04/2029 824,000 863,355

ReNew Power Synthetic6.670%, 03/12/2024 2,000,000 1,946,237

12,236,597Indonesia - 6.9%ABM Investama Tbk PT

7.125%, 08/01/2022 (A) 2,800,000 1,540,014Adaro Indonesia PT

4.250%, 10/31/2024 (A) 2,217,000 2,011,928Bayan Resources Tbk PT

6.125%, 01/24/2023 (A) 2,157,000 1,881,615Chandra Asri Petrochemical Tbk PT

4.950%, 11/08/2024 2,500,000 2,300,684Jasa Marga Persero Tbk PT

7.500%, 12/11/2020 (A) IDR 11,300,000,000 748,916

John Hancock Funds IIPortfolio of Investments — May 31, 2020 (unaudited) (showing percentage of total net assets)

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CORPORATE BONDS (continued)Indonesia (continued)Pertamina Persero PT

4.175%, 01/21/2050 $ 2,500,000 $ 2,448,130Perusahaan Listrik Negara PT

6.150%, 05/21/2048 2,500,000 2,947,25013,878,537

Isle of Man - 1.2%Gohl Capital, Ltd.

4.250%, 01/24/2027 2,500,000 2,464,607Japan - 0.3%Nippon Life Insurance Company

(3.400% to 1-23-30, then 5 Year CMT+ 2.612%)01/23/2050 (A) 672,000 685,924

Malaysia - 2.0%Press Metal Labuan, Ltd.

4.800%, 10/30/2022 2,800,000 2,438,014SD International Sukuk, Ltd.

6.300%, 05/09/2022 2,000,000 1,560,0503,998,064

Mauritius - 1.4%UPL Corp., Ltd.

4.500%, 03/08/2028 3,000,000 2,899,426Singapore - 5.5%Indika Energy Capital III Pte, Ltd.

5.875%, 11/09/2024 (A) 1,200,000 1,014,6885.875%, 11/09/2024 1,800,000 1,522,033

Medco Oak Tree Pte, Ltd.7.375%, 05/14/2026 (A) 2,160,000 1,808,913

Oil India International Pte, Ltd.4.000%, 04/21/2027 1,040,000 1,014,658

Singapore Post, Ltd. (4.250% to 3-2-22,then 10 Year Singapore Swap OfferedRate + 3.692%)03/02/2022 (B) SGD 5,000,000 3,546,762

TBLA International Pte, Ltd.7.000%, 01/24/2023 $ 2,500,000 2,138,943

11,045,997South Korea - 5.3%DB Insurance Company, Ltd.

3.865%, 05/25/2027 KRW 8,000,000,000 7,095,139The Korea Development Bank

7.000%, 11/30/2022 (A) IDR 52,000,000,000 3,512,93610,608,075

Supranational - 2.4%Asian Development Bank

6.450%, 08/08/2021 INR 360,000,000 4,841,340


CORPORATE BONDS (continued)United States - 2.3%Incitec Pivot Finance LLC

3.950%, 08/03/2027 $ 2,225,000 $ 2,305,550Resorts World Las Vegas LLC

4.625%, 04/16/2029 (A) 2,000,000 1,885,3274.625%, 04/16/2029 600,000 565,598

4,756,475Virgin Islands, British - 1.8%Franshion Brilliant, Ltd. (4.000% to

1-3-23, then 5 Year CMT + 5.238%)01/03/2023 (B) 2,000,000 1,951,377

New Metro Global, Ltd.6.500%, 04/23/2021 1,600,000 1,597,961

3,549,338TOTAL CORPORATE BONDS (Cost $125,490,043) $ 121,651,794

SHORT-TERM INVESTMENTS - 1.7%Short-term funds - 1.7%Federated Government Obligations Fund,

Institutional Class, 0.0914% (D) 3,397,086 3,397,086TOTAL SHORT-TERM INVESTMENTS (Cost $3,397,086) $ 3,397,086Total Investments (Asia Pacific Total Return Bond Fund)

(Cost $212,388,615) - 102.0% $ 205,693,770Other assets and liabilities, net - (2.0%) (4,111,742)TOTAL NET ASSETS - 100.0% $ 201,582,028

Currency AbbreviationsIDR Indonesian RupiahINR Indian RupeeKRW Korean WonMYR Malaysian RinggitPHP Philippine PesoSGD Singapore DollarTHB Thai BhatSecurity Abbreviations and LegendCMT Constant Maturity TreasuryLIBOR London Interbank Offered Rate(A) These securities are exempt from registration under Rule 144A of

the Securities Act of 1933. Such securities may be resold, normallyto qualified institutional buyers, in transactions exempt fromregistration. Rule 144A securities amounted to $21,379,136 or 10.6%of the fund’s net assets as of 5-31-20.

(B) Perpetual bonds have no stated maturity date. Date shown asmaturity date is next call date.

(C) Variable rate obligation. The coupon rate shown represents the rateat period end.

(D) The rate shown is the annualized seven-day yield as of 5-31-20.

DERIVATIVES

FUTURES

Open contractsNumber of

contracts PositionExpiration

dateNotional

basis^Notional

value^

Unrealizedappreciation

(depreciation)10-Year U.S. Treasury Note Futures 330 Short Sep 2020 $(45,763,601) $(45,890,625) $(127,024)

$(127,024)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.


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Capital Appreciation FundShares orPrincipalAmount Value

COMMON STOCKS – 99.6%Communication services – 14.6%Entertainment – 4.1%Netflix, Inc. (A) 166,482 $ 69,877,490Spotify Technology SA (A) 28,072 5,079,067

74,956,557Interactive media and services – 10.5%Alphabet, Inc., Class A (A) 32,406 46,454,649Alphabet, Inc., Class C (A) 32,330 46,196,984Facebook, Inc., Class A (A) 302,690 68,132,492Tencent Holdings, Ltd. 529,449 28,672,765

189,456,890264,413,447

Consumer discretionary – 20.8%Automobiles – 3.2%Tesla, Inc. (A)(B) 68,647 57,320,245Hotels, restaurants and leisure – 1.5%Chipotle Mexican Grill, Inc. (A) 26,810 26,914,827Internet and direct marketing retail – 9.4%Alibaba Group Holding, Ltd., ADR (A) 177,185 36,746,397Amazon.com, Inc. (A) 54,452 132,991,933

169,738,330Specialty retail – 1.7%The Home Depot, Inc. (B) 125,154 31,098,266Textiles, apparel and luxury goods – 5.0%Kering SA 37,101 19,450,564Lululemon Athletica, Inc. (A) 145,729 43,732,544NIKE, Inc., Class B 279,149 27,518,508

90,701,616375,773,284

Consumer staples – 4.0%Beverages – 0.7%Constellation Brands, Inc., Class A 68,488 11,827,878Food and staples retailing – 1.7%Costco Wholesale Corp. 99,974 30,838,980Personal products – 1.6%The Estee Lauder Companies, Inc.,

Class A 151,286 29,874,44672,541,304

Financials – 2.7%Capital markets – 2.7%S&P Global, Inc. 78,789 25,608,001The Goldman Sachs Group, Inc. 121,613 23,895,738

49,503,739Health care – 9.7%Biotechnology – 2.2%BioMarin Pharmaceutical, Inc. (A) 122,463 13,048,433Vertex Pharmaceuticals, Inc. (A)(B) 93,705 26,983,292

40,031,725Health care equipment and supplies – 2.5%Boston Scientific Corp. (A) 227,338 8,636,571Danaher Corp. 62,667 10,440,949DexCom, Inc. (A)(B) 49,892 18,874,643Intuitive Surgical, Inc. (A)(B) 13,068 7,579,832

45,531,995Health care providers and services – 0.3%Guardant Health, Inc. (A) 65,516 5,921,991Life sciences tools and services – 0.7%Illumina, Inc. (A) 32,168 11,678,592Pharmaceuticals – 4.0%AstraZeneca PLC, ADR (B) 758,459 41,411,861

Capital Appreciation Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Pharmaceuticals (continued)Eli Lilly & Company 202,645 $ 30,994,553

72,406,414175,570,717

Industrials – 3.5%Aerospace and defense – 0.9%The Boeing Company 112,485 16,405,937Road and rail – 2.6%Uber Technologies, Inc. (A) 910,442 33,067,253Union Pacific Corp. 80,994 13,757,641

46,824,89463,230,831

Information technology – 43.6%IT services – 14.4%Adyen NV (A)(C) 28,139 36,898,152FleetCor Technologies, Inc. (A) 38,819 9,463,684Mastercard, Inc., Class A 218,203 65,655,101PayPal Holdings, Inc. (A) 243,018 37,670,220Shopify, Inc., Class A (A) 48,500 36,753,300Twilio, Inc., Class A (A)(B) 108,437 21,427,151Visa, Inc., Class A (B) 272,156 53,135,737

261,003,345Semiconductors and semiconductor equipment – 3.8%NVIDIA Corp. 167,012 59,292,600QUALCOMM, Inc. 103,039 8,333,794

67,626,394Software – 20.8%Adobe, Inc. (A) 141,174 54,577,868Atlassian Corp. PLC, Class A (A) 94,900 17,584,970Coupa Software, Inc. (A)(B) 74,242 16,890,797Crowdstrike Holdings, Inc., Class A (A) 184,083 16,164,328Microsoft Corp. 575,334 105,429,956RingCentral, Inc., Class A (A) 74,921 20,547,084salesforce.com, Inc. (A) 350,897 61,333,287ServiceNow, Inc. (A) 43,752 16,972,713Splunk, Inc. (A) 160,707 29,865,789The Trade Desk, Inc., Class A (A)(B) 47,524 14,806,577Workday, Inc., Class A (A)(B) 119,148 21,855,318

376,028,687Technology hardware, storage and peripherals – 4.6%Apple, Inc. 262,251 83,380,083

788,038,509Real estate – 0.7%Equity real estate investment trusts – 0.7%American Tower Corp. 49,484 12,775,284TOTAL COMMON STOCKS (Cost $696,767,703) $ 1,801,847,115

SHORT-TERM INVESTMENTS – 3.4%Short-term funds – 3.4%John Hancock Collateral Trust,

0.3653% (D)(E) 6,236,222 62,435,182TOTAL SHORT-TERM INVESTMENTS (Cost $62,403,344) $ 62,435,182Total Investments (Capital Appreciation Fund)

(Cost $759,171,047) – 103.0% $ 1,864,282,297Other assets and liabilities, net – (3.0%) (54,841,641)TOTAL NET ASSETS – 100.0% $ 1,809,440,656

Security Abbreviations and LegendADR American Depositary Receipt(A) Non-income producing security.(B) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $61,122,478.


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Capital Appreciation Fund (continued)(C) These securities are exempt from registration under Rule 144A of

the Securities Act of 1933. Such securities may be resold, normallyto qualified institutional buyers, in transactions exempt fromregistration.

(D) The rate shown is the annualized seven-day yield as of 5-31-20.(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.

This security represents the investment of cash collateral received forsecurities lending.

Capital Appreciation Value FundShares orPrincipalAmount Value

COMMON STOCKS – 64.6%Communication services – 3.5%Interactive media and services – 3.5%Alphabet, Inc., Class A (A) 1 $ 1,434Alphabet, Inc., Class C (A)(B) 19,292 27,566,725Facebook, Inc., Class A (A) 85,600 19,267,704

46,835,863Consumer discretionary – 7.6%Auto components – 0.6%Aptiv PLC (B) 107,059 8,066,896Hotels, restaurants and leisure – 5.1%Hilton Worldwide Holdings, Inc. (B) 346,574 27,486,784Marriott International, Inc., Class A 164,389 14,548,427Yum! Brands, Inc. (B) 294,217 26,400,091

68,435,302Internet and direct marketing retail – 1.9%Amazon.com, Inc. (A) 10,364 25,312,723

101,814,921Consumer staples – 2.4%Beverages – 2.4%Keurig Dr. Pepper, Inc. 1,154,557 32,235,231Financials – 5.6%Banks – 1.2%The PNC Financial Services Group, Inc. 140,814 16,058,429Capital markets – 1.6%Intercontinental Exchange, Inc. 222,459 21,634,138Insurance – 2.8%Marsh & McLennan Companies, Inc. 344,423 36,481,284

74,173,851Health care – 13.6%Health care equipment and supplies – 5.7%Alcon, Inc. (A) 304,367 19,703,428Becton, Dickinson and Company (B) 85,021 20,994,236Boston Scientific Corp. (A) 46,496 1,766,383Danaher Corp. 149,953 24,983,669Envista Holdings Corp. (A)(C) 394,416 8,337,954

75,785,670Health care providers and services – 3.5%Humana, Inc. (B) 65,306 26,817,909UnitedHealth Group, Inc. 65,690 20,025,597

46,843,506Life sciences tools and services – 4.4%Avantor, Inc. (A)(B) 361,940 6,866,002PerkinElmer, Inc. 273,070 27,435,343Thermo Fisher Scientific, Inc. 71,917 25,112,697

59,414,042182,043,218

Industrials – 9.0%Commercial services and supplies – 0.7%Cintas Corp. 8,643 2,143,118

Capital Appreciation Value Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Commercial services and supplies (continued)Waste Connections, Inc. 79,069 $ 7,435,649

9,578,767Industrial conglomerates – 5.1%General Electric Company 7,642,001 50,207,947Roper Technologies, Inc. (B) 44,284 17,439,039

67,646,986Machinery – 3.2%Fortive Corp. 501,664 30,591,471Ingersoll Rand, Inc. (A) 423,123 11,932,069

42,523,540119,749,293

Information technology – 14.0%Electronic equipment, instruments and components – 0.6%TE Connectivity, Ltd. 94,168 7,651,150IT services – 6.4%Fiserv, Inc. (A) 307,712 32,854,410Global Payments, Inc. (B) 143,715 25,795,405Visa, Inc., Class A (B) 135,522 26,459,315

85,109,130Semiconductors and semiconductor equipment – 2.9%Maxim Integrated Products, Inc. 228,491 13,179,361NXP Semiconductors NV (B) 269,330 25,882,613

39,061,974Software – 4.1%Microsoft Corp. (B) 302,700 55,469,768

187,292,022Materials – 1.3%Chemicals – 1.3%Linde PLC 86,417 17,485,616Utilities – 7.6%Electric utilities – 4.7%Alliant Energy Corp. 19,476 961,335American Electric Power Company, Inc. 449,526 38,322,092NextEra Energy, Inc. (B) 32,514 8,309,278Xcel Energy, Inc. (B) 224,766 14,616,533

62,209,238Multi-utilities – 2.9%Ameren Corp. 281,070 21,004,361NiSource, Inc. 759,586 18,100,934

39,105,295101,314,533

TOTAL COMMON STOCKS (Cost $710,600,621) $ 862,944,548

PREFERRED SECURITIES – 4.6%Financials – 1.4%Banks – 1.3%JPMorgan Chase & Co., 5.750% 13,406 361,158U.S. Bancorp, 5.500% 45,103 1,232,665U.S. Bancorp (6.500% to 1-15-22, then 3

month LIBOR + 4.468%) 27,000 722,250Wells Fargo & Company, 7.500% 11,325 15,288,750

17,604,823Capital markets – 0.1%The Charles Schwab Corp., 5.950% 8,000 210,400The Charles Schwab Corp., 6.000% 49,668 1,263,057

1,473,45719,078,280

Health care – 1.0%


4


PREFERREDSECURITIES (continued)Health care equipment and supplies – 0.2%Boston Scientific Corp., 5.500% 19,651 $ 2,145,614Life sciences tools and services – 0.8%Avantor, Inc., 6.250% 177,051 11,377,297

13,522,911Industrials – 0.2%Machinery – 0.2%Fortive Corp., 5.000% 3,052 2,456,097Utilities – 2.0%Electric utilities – 0.9%Alabama Power Company, 5.000% 50,000 1,381,500American Electric Power Company, Inc.,

6.125% (C) 32,088 1,677,561Duke Energy Corp., 5.625% 103,700 2,867,305NextEra Energy, Inc., 5.279% 79,682 3,542,662SCE Trust III (5.750% to 3-15-24, then 3

month LIBOR + 2.990%) 4,172 96,582SCE Trust IV (5.375% to 9-15-25, then

3 month LIBOR + 3.132%) 103,538 2,292,33111,857,941

Multi-utilities – 1.1%CMS Energy Corp., 5.875% 140,644 3,800,201CMS Energy Corp., 5.875% 191,300 5,090,493DTE Energy Company, 5.250% 105,300 2,737,800NiSource, Inc. (6.500% to 3-15-24, then

5 Year CMT + 3.632%) 99,030 2,609,44114,237,93526,095,876

TOTAL PREFERRED SECURITIES (Cost $57,219,612) $ 61,153,164

CORPORATE BONDS - 11.3%Communication services - 3.6%CCO Holdings LLC

4.000%, 03/01/2023 (D) $ 1,235,000 1,244,2875.000%, 02/01/2028 (D) 7,312,000 7,658,3695.125%, 05/01/2027 (D) 4,930,000 5,176,5995.875%, 04/01/2024 (D) 1,890,000 1,941,578

Charter Communications Operating LLC3.579%, 07/23/2020 575,000 575,029

Level 3 Financing, Inc.5.375%, 08/15/2022 414,000 414,985

Netflix, Inc.4.375%, 11/15/2026 4,960,000 5,254,5254.875%, 04/15/2028 5,810,000 6,202,1755.500%, 02/15/2022 350,000 366,9585.875%, 02/15/2025 to 11/15/2028 10,243,000 11,618,3286.375%, 05/15/2029 4,450,000 5,217,625

Sirius XM Radio, Inc.4.625%, 05/15/2023 (D) 1,170,000 1,172,785

T-Mobile USA, Inc.6.000%, 03/01/2023 715,000 722,4006.500%, 01/15/2026 330,000 348,249

47,913,892Consumer discretionary - 2.8%Cedar Fair LP

5.250%, 07/15/2029 (D) 1,925,000 1,819,8375.375%, 06/01/2024 to 04/15/2027 4,588,000 4,368,578

Hilton Domestic OperatingCompany, Inc.4.250%, 09/01/2024 280,000 280,000


CORPORATE BONDS (continued)Consumer discretionary (continued)KFC Holding Company/Pizza Hut

Holdings LLC/Taco Bell ofAmerica LLC4.750%, 06/01/2027 (D) $ 5,280,000 $ 5,473,7235.000%, 06/01/2024 (D) 2,635,000 2,697,1605.250%, 06/01/2026 (D) 3,813,000 3,965,520

Marriott International, Inc.3.125%, 06/15/2026 415,000 395,203

Marriott International, Inc. (3 monthLIBOR + 0.650%)1.649%, 03/08/2021 (E) 575,000 565,656

Service Corp. International5.375%, 05/15/2024 1,475,000 1,508,188

Six Flags Entertainment Corp.4.875%, 07/31/2024 (D) 2,495,000 2,345,3005.500%, 04/15/2027 (D) 2,322,000 2,159,460

Yum! Brands, Inc.3.750%, 11/01/2021 3,635,000 3,675,8943.875%, 11/01/2020 to 11/01/2023 3,785,000 3,810,9064.750%, 01/15/2030 (D) 420,000 435,3805.350%, 11/01/2043 3,109,000 3,015,7306.875%, 11/15/2037 925,000 971,250

37,487,785Energy - 0.1%NuStar Logistics LP

4.800%, 09/01/2020 1,020,000 1,028,288Financials - 1.0%HUB International, Ltd.

7.000%, 05/01/2026 (D) 3,066,000 3,148,997Refinitiv US Holdings, Inc.

6.250%, 05/15/2026 (D) 1,620,000 1,729,3508.250%, 11/15/2026 (D) 1,935,000 2,113,988

State Street Corp. (5.250% to 9-15-20,then 3 month LIBOR + 3.597%)09/15/2020 (F) 1,550,000 1,460,875

The Bank of New York Mellon Corp.(4.625% to 9-20-26, then 3 monthLIBOR + 3.131%)09/20/2026 (F) 810,000 789,750

The Bank of New York Mellon Corp.(4.950% to 9-20-20, then 3 monthLIBOR + 3.420%)09/20/2020 (F) 1,450,000 1,352,778

The PNC Financial Services Group, Inc.(5.000% to 11-1-26, then 3 monthLIBOR + 3.300%)11/01/2026 (F) 1,660,000 1,660,000

U.S. Bancorp (5.300% to 4-15-27, then 3month LIBOR + 2.914%)04/15/2027 (F) 540,000 544,050

USI, Inc.6.875%, 05/01/2025 (D) 575,000 589,139

13,388,927Health care - 1.5%Avantor, Inc.

6.000%, 10/01/2024 (D) 2,870,000 3,012,8979.000%, 10/01/2025 (D) 11,776,000 12,718,080

Elanco Animal Health, Inc.4.662%, 08/27/2021 1,775,000 1,806,063

Hologic, Inc.4.375%, 10/15/2025 (D) 905,000 925,172

Teleflex, Inc.4.625%, 11/15/2027 707,000 737,309


5


CORPORATE BONDS (continued)Health care (continued)Teleflex, Inc. (continued)

4.875%, 06/01/2026 $ 1,311,000 $ 1,350,33020,549,851

Industrials - 0.9%Continental Airlines 2012-1 Class A Pass

Through Trust4.150%, 04/11/2024 871,774 793,524

General Electric Company (5.000% to1-21-21, then 3 month LIBOR +3.330%)01/21/2021 (F) 6,766,000 5,190,875

Korn Ferry4.625%, 12/15/2027 (D) 480,000 439,200

Lennox International, Inc.3.000%, 11/15/2023 510,000 524,091

Sensata Technologies BV4.875%, 10/15/2023 (D) 1,057,000 1,086,0685.000%, 10/01/2025 (D) 975,000 1,011,5635.625%, 11/01/2024 (D) 415,000 434,156

Sensata Technologies UK FinancingCompany PLC6.250%, 02/15/2026 (D) 350,000 368,375

US Airways 2010-1 Class A PassThrough Trust6.250%, 04/22/2023 41,897 34,146


US Airways 2012-2 Class B PassThrough Trust6.750%, 06/03/2021 239,336 173,518


US Airways 2013-1 Class B PassThrough Trust5.375%, 11/15/2021 316,614 224,043

Welbilt, Inc.9.500%, 02/15/2024 1,692,000 1,522,800

Xylem, Inc.4.875%, 10/01/2021 100,000 105,215

12,366,341Information technology - 0.7%Fiserv, Inc.

2.700%, 06/01/2020 1,590,000 1,590,000Solera LLC

10.500%, 03/01/2024 (D) 8,115,000 8,246,8699,836,869

Materials - 0.2%Reynolds Group Issuer, Inc.

5.125%, 07/15/2023 (D) 1,000,000 1,012,500Reynolds Group Issuer, Inc. (3 month

LIBOR + 3.500%)4.719%, 07/15/2021 (D)(E) 1,410,000 1,399,425

2,411,925Real estate - 0.3%SBA Communications Corp.

3.875%, 02/15/2027 (D) 720,000 731,0884.000%, 10/01/2022 2,000,000 2,027,9204.875%, 09/01/2024 1,255,000 1,288,320

4,047,328


CORPORATE BONDS (continued)Utilities - 0.2%NiSource, Inc. (5.650% to 6-15-23, then

5 Year CMT + 2.843%)06/15/2023 (F) $ 2,650,000 $ 2,517,500

TOTAL CORPORATE BONDS (Cost $147,888,991) $ 151,548,706

TERM LOANS (G) – 8.0%Communication services – 0.1%Formula One Management, Ltd., 2018

USD Term Loan B (1 month LIBOR+ 2.500%)3.500%, 02/01/2024 2,265,000 2,131,931

Consumer discretionary – 0.1%Four Seasons Hotels, Ltd., New 1st Lien

Term Loan (1 month LIBOR +2.000%)2.174%, 11/30/2023 992,513 944,307

Life Time, Inc., 2017 Term Loan BTBD 06/10/2022 (H) 75,000 66,094

1,010,401Consumer staples – 0.3%Prestige Brands, Inc., Term Loan B4 (1

month LIBOR + 2.000%)2.174%, 01/26/2024 104,052 101,927

Sunshine Luxembourg VII Sarl, USDTerm Loan B1 (6 month LIBOR +4.250%)5.322%, 10/01/2026 4,406,200 4,216,205

4,318,132Financials – 4.7%Alliant Holdings Intermediate LLC, 2018

Term Loan B (1 month LIBOR +2.750%)2.924%, 05/09/2025 237,087 225,852

AmWINS Group, Inc., 2017 Term LoanB (1 month LIBOR + 2.750%)3.750%, 01/25/2024 437,734 429,710

Emerald TopCo, Inc., Term Loan (1 and3 month LIBOR + 3.500%)4.259%, 07/24/2026 3,099,419 2,970,794

HUB International, Ltd., 2018 TermLoan B (3 month LIBOR + 3.000%)4.020%, 04/25/2025 21,022,610 20,210,717

HUB International, Ltd., 2019Incremental Term Loan B (3 monthLIBOR + 4.000%)5.000%, 04/25/2025 3,491,250 3,412,802

Refinitiv US Holdings, Inc., 2018 USDTerm Loan (1 month LIBOR +3.250%)3.424%, 10/01/2025 29,257,779 28,798,140

USI, Inc. 2020 Term LoanTBD 12/02/2026 (H) 1,375,000 1,292,500

USI, Inc., 2017 Repriced Term Loan (1month LIBOR + 3.000%)3.174%, 05/16/2024 5,234,375 5,021,074

62,361,589Health care – 0.6%CPI Holdco LLC, 2019 Term Loan (3

month LIBOR + 4.250%)5.700%, 11/04/2026 420,000 405,825

Dino Grandparent, Inc., 2019 Term LoanA3 (1 month LIBOR + 2.250%)2.688%, 02/20/2023 3,450,000 3,312,000


6


TERM LOANS (G)(continued)Health care (continued)Loire Finco Luxembourg Sarl, Term

Loan (1 month LIBOR + 3.500%)3.674%, 04/21/2027 $ 4,275,000 $ 4,037,225

7,755,050Industrials – 0.1%Filtration Group Corp., 2018 1st Lien

Term Loan (1 month LIBOR +3.000%)3.174%, 03/29/2025 470,000 455,703

Welbilt, Inc., 2018 Term Loan B (1month LIBOR + 2.500%)2.674%, 10/23/2025 575,000 490,763

946,466Information technology – 2.1%CCC Information Services, Inc., 2017 1st

Lien Term Loan (1 month LIBOR +3.000%)4.000%, 04/29/2024 13,701,498 13,179,197

Gartner, Inc., 2016 Term Loan A (1month LIBOR + 1.500%)1.674%, 03/20/2022 342,698 339,271

Kronos, Inc., 2017 Term Loan B (3month LIBOR + 3.000%)3.330%, 11/01/2023 14,440,560 14,169,800

The Ultimate Software Group, Inc., TermLoan B (1 month LIBOR + 3.750%)3.924%, 05/04/2026 691,525 668,089

28,356,357Materials – 0.0%HB Fuller Company, 2017 Term Loan B

(1 month LIBOR + 2.000%)2.171%, 10/20/2024 419,852 408,830

TOTAL TERM LOANS (Cost $109,550,735) $ 107,288,756


0.3653% (I)(J) 175,654 1,758,598


SHORT-TERM INVESTMENTS (continued)Short-term funds (continued)State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (I) 9,698,216 $ 9,698,216

T. Rowe Price Government ReserveFund, 0.2523% (I) 144,555,145 144,555,145

TOTAL SHORT-TERM INVESTMENTS (Cost $156,011,525) $ 156,011,959Total Investments (Capital Appreciation Value Fund)

(Cost $1,181,271,484) – 100.2% $ 1,338,947,133Other assets and liabilities, net – (0.2%) (3,272,115)TOTAL NET ASSETS – 100.0% $ 1,335,675,018

Security Abbreviations and LegendCMT Constant Maturity TreasuryLIBOR London Interbank Offered Rate(A) Non-income producing security.(B) All or a portion of this security is segregated at the custodian as

collateral for certain derivatives.(C) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $1,716,916.(D) These securities are exempt from registration under Rule 144A of


(E) Variable rate obligation. The coupon rate shown represents the rateat period end.

(F) Perpetual bonds have no stated maturity date. Date shown asmaturity date is next call date.

(G) Term loans are variable rate obligations. The coupon rate shownrepresents the rate at period end.

(H) This position represents an unsettled loan commitment at period end.Certain details associated with this purchase are not known prior tothe settlement date, including coupon rate, which is disclosed asTBD (To Be Determined).

(I) The rate shown is the annualized seven-day yield as of 5-31-20.(J) Investment is an affiliate of the fund, the advisor and/or subadvisor.


DERIVATIVES

WRITTEN OPTIONS

Options on securitiesCounterparty (OTC)/Exchange-traded Name of issuer

Exerciseprice

Expirationdate

Number ofcontracts

Notionalamount Premium Value

Calls

CITI Alphabet, Inc., Class C USD 1,500.00 Jan 2021 8 800 $ 64,056 $ (84,431)CITI Alphabet, Inc., Class C USD 1,500.00 Jan 2021 8 800 60,376 (84,431)CITI Alphabet, Inc., Class C USD 1,500.00 Jan 2021 8 800 59,096 (84,431)CITI Alphabet, Inc., Class C USD 1,500.00 Jan 2021 5 500 31,885 (52,770)GSI Alphabet, Inc., Class C USD 1,740.00 Jan 2021 3 300 14,151 (9,753)GSI Alphabet, Inc., Class C USD 1,740.00 Jan 2021 2 200 9,374 (6,502)GSI Alphabet, Inc., Class C USD 1,740.00 Jan 2021 3 300 13,281 (9,753)GSI Alphabet, Inc., Class C USD 1,760.00 Jan 2021 3 300 12,741 (8,693)GSI Alphabet, Inc., Class C USD 1,760.00 Jan 2021 2 200 8,454 (5,796)GSI Alphabet, Inc., Class C USD 1,760.00 Jan 2021 3 300 11,991 (8,693)GSI Alphabet, Inc., Class C USD 1,780.00 Jan 2021 3 300 11,481 (7,729)GSI Alphabet, Inc., Class C USD 1,780.00 Jan 2021 2 200 7,654 (5,153)GSI Alphabet, Inc., Class C USD 1,780.00 Jan 2021 3 300 10,761 (7,729)GSI Alphabet, Inc., Class C USD 1,800.00 Jan 2021 3 300 10,341 (6,854)GSI Alphabet, Inc., Class C USD 1,800.00 Jan 2021 2 200 6,874 (4,570)


7

Capital Appreciation Value Fund (continued)

Options on securities (continued)Counterparty (OTC)/Exchange-traded Name of issuer

Exerciseprice

Expirationdate

Number ofcontracts


Calls (continued)GSI Alphabet, Inc., Class C USD 1,800.00 Jan 2021 3 300 $ 9,651 $ (6,854)CITI American Electric Power Company, Inc. USD 105.00 Jan 2021 210 21,000 32,970 (20,355)CITI American Electric Power Company, Inc. USD 105.00 Jan 2021 208 20,800 32,656 (20,161)CITI American Electric Power Company, Inc. USD 115.00 Jan 2021 115 11,500 20,299 (2,983)GSI Aptiv PLC USD 97.50 Jan 2021 43 4,300 23,904 (21,673)GSI Aptiv PLC USD 97.50 Jan 2021 42 4,200 28,034 (21,169)GSI Aptiv PLC USD 100.00 Jan 2021 43 4,300 20,470 (19,244)GSI Aptiv PLC USD 100.00 Jan 2021 42 4,200 24,176 (18,797)CSFB Avantor, Inc. USD 15.00 Jan 2021 118 11,800 13,995 (65,016)CSFB Avantor, Inc. USD 20.00 Jan 2021 33 3,300 7,296 (8,186)CSFB Avantor, Inc. USD 20.00 Jan 2021 136 13,600 31,810 (31,810)CSFB Avantor, Inc. USD 22.50 Jan 2021 33 3,300 3,706 (5,207)CSFB Avantor, Inc. USD 22.50 Jan 2021 136 13,600 16,646 (16,646)GSI Becton, Dickinson and Company USD 260.00 Jan 2021 24 2,400 42,154 (36,854)GSI Becton, Dickinson and Company USD 270.00 Jan 2021 24 2,400 33,735 (27,939)GSI Becton, Dickinson and Company USD 280.00 Jan 2021 17 1,700 21,513 (14,704)GSI Becton, Dickinson and Company USD 280.00 Jan 2021 17 1,700 23,551 (14,704)GSI Becton, Dickinson and Company USD 300.00 Jan 2021 16 1,600 14,972 (7,267)GSI Becton, Dickinson and Company USD 300.00 Jan 2021 36 3,600 32,897 (16,351)GSI Becton, Dickinson and Company USD 300.00 Jan 2021 52 5,200 51,963 (23,619)GSI Becton, Dickinson and Company USD 300.00 Jan 2021 45 4,500 54,590 (20,439)GSI Becton, Dickinson and Company USD 300.00 Jan 2021 17 1,700 11,439 (7,722)GSI Becton, Dickinson and Company USD 300.00 Jan 2021 17 1,700 12,735 (7,722)JPM Danaher Corp. USD 150.00 Jan 2021 35 3,500 38,043 (90,266)JPM Danaher Corp. USD 160.00 Jan 2021 35 3,500 46,960 (67,301)JPM Danaher Corp. USD 180.00 Jan 2021 34 3,400 30,521 (31,784)JPM Danaher Corp. USD 185.00 Jan 2021 68 6,800 32,174 (51,655)JPM Danaher Corp. USD 190.00 Jan 2021 68 6,800 23,038 (41,560)JPM Danaher Corp. USD 190.00 Jan 2021 34 3,400 20,275 (20,780)JPM Facebook, Inc., Class A USD 195.00 Jan 2021 48 4,800 53,813 (210,618)JPM Facebook, Inc., Class A USD 200.00 Jan 2021 48 4,800 45,947 (194,558)JPM Facebook, Inc., Class A USD 265.00 Jan 2021 38 3,800 38,076 (41,914)JPM Facebook, Inc., Class A USD 265.00 Jan 2021 33 3,300 32,736 (36,399)JPM Facebook, Inc., Class A USD 270.00 Jan 2021 38 3,800 33,706 (37,146)JPM Facebook, Inc., Class A USD 270.00 Jan 2021 33 3,300 28,941 (32,258)JPM Facebook, Inc., Class A USD 275.00 Jan 2021 38 3,800 29,716 (32,830)JPM Facebook, Inc., Class A USD 275.00 Jan 2021 33 3,300 25,311 (28,510)JPM General Electric Company USD 8.00 Jan 2021 1,180 118,000 142,898 (80,151)JPM General Electric Company USD 15.00 Jan 2021 1,312 131,200 68,224 (4,593)JPM General Electric Company USD 15.00 Jan 2021 1,312 131,200 74,154 (4,593)JPM General Electric Company USD 15.00 Jan 2021 2,441 244,100 205,410 (8,545)JPM General Electric Company USD 15.00 Jan 2021 1,221 122,100 104,249 (4,274)JPM General Electric Company USD 15.00 Jan 2021 734 73,400 64,049 (2,570)GSI Global Payments, Inc. USD 185.00 Dec 2020 16 1,600 22,600 (28,220)GSI Global Payments, Inc. USD 185.00 Dec 2020 18 1,800 26,076 (31,747)GSI Global Payments, Inc. USD 195.00 Dec 2020 16 1,600 16,288 (21,480)GSI Global Payments, Inc. USD 195.00 Dec 2020 18 1,800 19,050 (24,165)CSFB Hilton Worldwide Holdings, Inc. USD 87.50 Jan 2021 12 1,200 9,068 (10,382)CSFB Hilton Worldwide Holdings, Inc. USD 90.00 Jan 2021 12 1,200 7,981 (9,219)CITI Hilton Worldwide Holdings, Inc. USD 125.00 Jan 2021 33 3,300 17,849 (2,836)CITI Hilton Worldwide Holdings, Inc. USD 125.00 Jan 2021 1 100 551 (86)CITI Hilton Worldwide Holdings, Inc. USD 130.00 Jan 2021 32 3,200 12,545 (1,848)CITI Hilton Worldwide Holdings, Inc. USD 130.00 Jan 2021 1 100 398 (58)CSFB Humana, Inc. USD 370.00 Jan 2021 24 2,400 81,089 (169,874)CSFB Humana, Inc. USD 380.00 Jan 2021 24 2,400 70,776 (154,451)CSFB Humana, Inc. USD 420.00 Jan 2021 18 1,800 49,795 (75,572)CSFB Humana, Inc. USD 430.00 Jan 2021 18 1,800 43,207 (67,074)JPM Ingersoll Rand, Inc. USD 35.00 Dec 2020 169 16,900 25,666 (25,023)JPM Intercontinental Exchange, Inc. USD 100.00 Jan 2021 68 6,800 40,276 (48,720)JPM Intercontinental Exchange, Inc. USD 105.00 Jan 2021 68 6,800 27,474 (34,522)CITI Keurig Dr. Pepper, Inc. USD 29.00 Oct 2020 230 23,000 24,189 (32,167)CITI Keurig Dr. Pepper, Inc. USD 30.00 Oct 2020 236 23,600 29,354 (24,530)CITI Keurig Dr. Pepper, Inc. USD 31.00 Oct 2020 236 23,600 22,885 (17,921)CITI Microsoft Corp. USD 165.00 Jan 2021 141 14,100 179,387 (401,100)CSFB Microsoft Corp. USD 165.00 Jan 2021 283 28,300 191,053 (805,045)


8

Capital Appreciation Value Fund (continued)

Options on securities (continued)Counterparty (OTC)/Exchange-traded Name of issuer

Exerciseprice

Expirationdate

Number ofcontracts


Calls (continued)CSFB Microsoft Corp. USD 165.00 Jan 2021 270 27,000 $ 186,840 $ (768,064)CITI Microsoft Corp. USD 170.00 Jan 2021 141 14,100 151,888 (354,395)JPM Microsoft Corp. USD 170.00 Jan 2021 355 35,500 385,885 (892,271)JPM Microsoft Corp. USD 170.00 Jan 2021 189 18,900 200,966 (475,040)CSFB NextEra Energy, Inc. USD 310.00 Jan 2021 26 2,600 21,801 (10,203)CSFB NextEra Energy, Inc. USD 320.00 Jan 2021 27 2,700 16,033 (7,216)JPM NXP Semiconductors NV USD 115.00 Jan 2021 29 2,900 29,098 (19,980)JPM NXP Semiconductors NV USD 125.00 Jan 2021 29 2,900 19,777 (12,865)CSFB NXP Semiconductors NV USD 140.00 Jan 2021 37 3,700 25,907 (7,918)CSFB NXP Semiconductors NV USD 140.00 Jan 2021 86 8,600 63,709 (18,403)CSFB NXP Semiconductors NV USD 140.00 Jan 2021 204 20,400 154,550 (43,654)JPM PerkinElmer, Inc. USD 110.00 Dec 2020 6 600 3,160 (3,456)JPM PerkinElmer, Inc. USD 110.00 Dec 2020 39 3,900 22,054 (22,054)JPM PerkinElmer, Inc. USD 115.00 Dec 2020 6 600 1,551 (2,568)JPM PerkinElmer, Inc. USD 115.00 Dec 2020 39 3,900 8,589 (8,589)GSI Roper Technologies, Inc. USD 430.00 Aug 2020 22 2,200 16,687 (17,829)GSI Roper Technologies, Inc. USD 370.00 Nov 2020 23 2,300 39,250 (106,874)GSI Roper Technologies, Inc. USD 390.00 Nov 2020 23 2,300 21,369 (79,130)GSI Roper Technologies, Inc. USD 420.00 Nov 2020 23 2,300 29,256 (46,531)GSI Roper Technologies, Inc. USD 440.00 Nov 2020 23 2,300 16,574 (30,842)RBC Thermo Fisher Scientific, Inc. USD 370.00 Jan 2021 22 2,200 30,928 (49,432)RBC Thermo Fisher Scientific, Inc. USD 390.00 Jan 2021 23 2,300 19,048 (35,864)RBC Thermo Fisher Scientific, Inc. USD 400.00 Jan 2021 37 3,700 28,848 (47,454)RBC Thermo Fisher Scientific, Inc. USD 400.00 Jan 2021 69 6,900 48,803 (88,495)RBC Thermo Fisher Scientific, Inc. USD 400.00 Jan 2021 15 1,500 10,643 (19,238)RBC Thermo Fisher Scientific, Inc. USD 400.00 Jan 2021 6 600 5,576 (7,695)JPM UnitedHealth Group, Inc. USD 320.00 Jan 2021 23 2,300 39,425 (51,760)JPM UnitedHealth Group, Inc. USD 330.00 Jan 2021 23 2,300 31,738 (42,225)GSI Visa, Inc., Class A USD 185.00 Jan 2021 24 2,400 43,366 (61,088)GSI Visa, Inc., Class A USD 195.00 Jan 2021 24 2,400 33,143 (47,230)GSI Visa, Inc., Class A USD 200.00 Jan 2021 46 4,600 51,492 (78,644)GSI Visa, Inc., Class A USD 210.00 Jan 2021 45 4,500 35,853 (56,626)GSI Visa, Inc., Class A USD 210.00 Jan 2021 57 5,700 72,080 (71,726)GSI Visa, Inc., Class A USD 210.00 Jan 2021 23 2,300 29,671 (28,942)GSI Visa, Inc., Class A USD 220.00 Jan 2021 23 2,300 20,289 (20,550)CSFB Visa, Inc., Class A USD 230.00 Jan 2021 102 10,200 79,529 (62,255)CSFB Visa, Inc., Class A USD 230.00 Jan 2021 62 6,200 44,082 (37,841)GSI Visa, Inc., Class A USD 230.00 Jan 2021 24 2,400 22,625 (14,648)GSI Visa, Inc., Class A USD 230.00 Jan 2021 29 2,900 29,669 (17,700)CSFB Visa, Inc., Class A USD 235.00 Jan 2021 102 10,200 64,648 (50,680)CSFB Visa, Inc., Class A USD 235.00 Jan 2021 62 6,200 35,861 (30,805)CSFB Visa, Inc., Class A USD 240.00 Jan 2021 102 10,200 52,316 (40,830)CSFB Visa, Inc., Class A USD 240.00 Jan 2021 62 6,200 28,824 (24,818)GSI Visa, Inc., Class A USD 240.00 Jan 2021 24 2,400 15,333 (9,607)GSI Visa, Inc., Class A USD 240.00 Jan 2021 29 2,900 20,406 (11,608)CSFB Xcel Energy, Inc. USD 60.00 Oct 2020 85 8,500 34,459 (59,785)CSFB Xcel Energy, Inc. USD 65.00 Oct 2020 85 8,500 17,264 (32,975)CSFB Xcel Energy, Inc. USD 65.00 Oct 2020 118 11,800 61,419 (45,777)CSFB Xcel Energy, Inc. USD 70.00 Dec 2020 92 9,200 25,705 (23,934)CSFB Xcel Energy, Inc. USD 70.00 Dec 2020 91 9,100 13,677 (23,674)CSFB Xcel Energy, Inc. USD 75.00 Dec 2020 92 9,200 11,353 (10,972)BOA Yum! Brands, Inc. USD 95.00 Jan 2021 17 1,700 11,237 (11,247)BOA Yum! Brands, Inc. USD 95.00 Jan 2021 52 5,200 29,254 (34,403)BOA Yum! Brands, Inc. USD 100.00 Jan 2021 17 1,700 8,279 (8,017)BOA Yum! Brands, Inc. USD 100.00 Jan 2021 52 5,200 20,928 (24,522)CITI Yum! Brands, Inc. USD 100.00 Jan 2021 57 5,700 28,320 (26,880)CITI Yum! Brands, Inc. USD 100.00 Jan 2021 57 5,700 24,418 (24,418)CITI Yum! Brands, Inc. USD 105.00 Jan 2021 57 5,700 19,464 (18,578)CITI Yum! Brands, Inc. USD 105.00 Jan 2021 57 5,700 15,637 (15,637)

$5,584,030 $(8,127,517)

Derivatives Currency AbbreviationsUSD U.S. Dollar

Derivatives Abbreviations


9

Capital Appreciation Value Fund (continued)BOA Bank of America, N.A.CITI Citibank, N.A.CSFB Credit Suisse First Boston InternationalGSI Goldman Sachs InternationalJPM JPMorgan Chase Bank, N.A.OTC Over-the-counterRBC Royal Bank of Canada

Core Bond FundShares orPrincipalAmount Value

U.S. GOVERNMENT AND AGENCY OBLIGATIONS –54.4%U.S. Government – 14.0%U.S. Treasury Bonds

1.250%, 05/15/2050 $ 15,391,000 $ 14,751,3122.000%, 02/15/2050 8,089,000 9,247,0542.375%, 11/15/2049 11,055,000 13,623,5602.750%, 11/15/2042 58,091,000 74,113,6782.875%, 05/15/2043 33,130,000 43,164,7663.125%, 08/15/2044 11,528,000 15,692,040

U.S. Treasury Notes0.125%, 04/30/2022 to 05/15/2023 37,007,000 36,978,7870.250%, 05/31/2025 33,147,000 33,064,1330.375%, 03/31/2022 6,736,000 6,761,2600.375%, 04/30/2025 (A) 7,873,000 7,899,7560.500%, 04/30/2027 10,216,000 10,221,1880.625%, 05/15/2030 31,710,000 31,620,8161.125%, 05/15/2040 42,177,000 41,742,0502.500%, 02/28/2026 16,098,000 18,018,4412.625%, 03/31/2025 8,153,000 9,059,7032.875%, 11/30/2025 1,599,000 1,816,489

367,775,033U.S. Government Agency – 40.4%Federal Home Loan Mortgage Corp.

2.500%, 05/01/2031 to 03/01/2050 1,518,493 1,605,6883.000%, 12/01/2049 to 02/01/2050 5,183,359 5,554,5833.500%, 02/01/2048 to 11/01/2049 15,987,122 17,184,2824.000%, 01/01/2035 to 11/01/2049 86,687,810 94,820,9464.500%, 06/01/2039 to 08/01/2049 33,034,217 36,652,4075.000%, 05/01/2048 to 03/01/2049 14,912,458 16,852,154

Federal National Mortgage Association2.000%, TBA (B) 35,900,000 37,006,2912.500%, TBA (B) 201,000,000 208,120,0512.500%, 11/01/2028 to 08/01/2031 3,896,704 4,082,5072.661%, (12 month LIBOR +

1.586%), 01/01/2046 (C) 8,217,983 8,497,8822.754%, (12 month LIBOR +

1.579%), 06/01/2045 (C) 2,275,336 2,350,2463.000%, 12/01/2034 to 02/01/2050 6,956,886 7,436,1203.500%, 06/01/2049 to 11/01/2049 12,485,196 13,282,2594.000%, 07/01/2033 to 01/01/2059 186,819,393 205,591,7574.500%, 05/01/2034 to 01/01/2059 88,566,213 99,389,4655.000%, 07/01/2044 to 11/01/2049 94,169,884 106,885,4385.500%, 12/01/2048 to 06/01/2049 11,505,771 12,977,411

Government NationalMortgage Association2.000%, TBA (B) 2,500,000 2,579,9642.500%, TBA (B) 10,300,000 10,835,6233.000%, TBA (B) 17,000,000 17,996,3553.000%, 02/20/2050 to 03/20/2050 12,547,174 13,455,5773.500%, 01/20/2048 to 08/20/2049 6,668,624 7,231,5534.000%, 04/20/2047 to 07/20/2049 69,478,155 75,043,9124.500%, 08/15/2047 to 05/20/2049 15,360,242 16,872,357

Core Bond Fund (continued)Shares orPrincipalAmount Value

U.S. GOVERNMENT AND AGENCYOBLIGATIONS (continued)U.S. Government Agency (continued)Government National

Mortgage Association (continued)5.000%, 12/20/2039 to 03/20/2049 $ 31,746,553 $ 34,886,724

1,057,191,552TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS(Cost $1,401,173,371) $ 1,424,966,585

FOREIGN GOVERNMENT OBLIGATIONS – 1.4%Indonesia – 0.1%Republic of Indonesia

4.450%, 04/15/2070 1,386,000 1,537,704Israel – 0.1%State of Israel

3.375%, 01/15/2050 818,000 863,8574.500%, 04/03/2120 913,000 1,110,098

1,973,955Japan – 0.1%Japan Bank for International Cooperation

1.750%, 10/17/2024 2,264,000 2,357,872Mexico – 0.5%Government of Mexico

3.250%, 04/16/2030 2,838,000 2,799,7153.900%, 04/27/2025 2,019,000 2,127,0174.500%, 04/22/2029 4,818,000 5,203,4404.600%, 02/10/2048 746,000 772,1104.750%, 03/08/2044 1,050,000 1,095,6755.000%, 04/27/2051 1,087,000 1,167,438

13,165,395Paraguay – 0.1%Republic of Paraguay

4.950%, 04/28/2031 (D) 1,390,000 1,494,2505.400%, 03/30/2050 (D) 2,269,000 2,503,864

3,998,114Peru – 0.1%Republic of Peru

2.392%, 01/23/2026 955,000 987,4702.783%, 01/23/2031 557,000 587,078

1,574,548Qatar – 0.2%State of Qatar

3.400%, 04/16/2025 (D) 3,436,000 3,668,7553.750%, 04/16/2030 (D) 2,262,000 2,516,475

6,185,230United Arab Emirates – 0.2%Republic of United Arab Emirates

2.500%, 04/16/2025 (D) 4,504,000 4,676,2783.875%, 04/16/2050 (D) 408,000 464,610

5,140,888TOTAL FOREIGN GOVERNMENT OBLIGATIONS(Cost $33,930,493) $ 35,933,706


10


CORPORATE BONDS – 31.7%Communication services – 3.1%America Movil SAB de CV

2.875%, 05/07/2030 $ 2,400,000 $ 2,498,448AT&T, Inc.

2.300%, 06/01/2027 2,532,000 2,561,0742.750%, 06/01/2031 2,532,000 2,549,4653.000%, 02/15/2022 to 06/30/2022 3,372,000 3,497,3873.400%, 05/15/2025 3,262,000 3,517,1883.500%, 06/01/2041 844,000 849,7033.600%, 02/17/2023 1,561,000 1,658,8603.650%, 06/01/2051 802,000 808,1183.850%, 06/01/2060 844,000 858,1963.875%, 08/15/2021 1,248,000 1,294,7133.900%, 03/11/2024 931,000 1,008,4064.300%, 02/15/2030 1,820,000 2,067,9954.500%, 03/09/2048 674,000 767,1854.850%, 03/01/2039 821,000 961,8155.150%, 02/15/2050 1,550,000 1,937,1725.250%, 03/01/2037 486,000 593,7225.350%, 12/15/2043 406,000 492,1495.375%, 10/15/2041 652,000 796,242

Charter Communications Operating LLC4.464%, 07/23/2022 805,000 857,2914.800%, 03/01/2050 636,000 708,206

Comcast Corp.1.950%, 01/15/2031 2,954,000 2,957,8752.650%, 02/01/2030 1,143,000 1,218,3792.800%, 01/15/2051 1,292,000 1,271,2683.100%, 04/01/2025 1,723,000 1,883,0893.700%, 04/15/2024 1,632,000 1,804,6763.750%, 04/01/2040 1,923,000 2,203,8143.950%, 10/15/2025 1,475,000 1,689,7434.150%, 10/15/2028 1,972,000 2,332,8204.600%, 10/15/2038 2,067,000 2,565,790

Discovery Communications LLC3.625%, 05/15/2030 1,764,000 1,863,6504.650%, 05/15/2050 1,174,000 1,248,022

The Walt Disney Company3.500%, 05/13/2040 960,000 1,050,3543.600%, 01/13/2051 1,670,000 1,867,0553.800%, 05/13/2060 599,000 680,829

Time Warner Cable LLC6.550%, 05/01/2037 581,000 741,166

T-Mobile USA, Inc.3.500%, 04/15/2025 (D) 3,664,000 3,923,6683.750%, 04/15/2027 (D) 2,786,000 3,012,1953.875%, 04/15/2030 (D) 1,823,000 1,976,278

Verizon Communications, Inc.3.000%, 03/22/2027 799,000 870,2063.500%, 11/01/2024 1,967,000 2,165,0214.016%, 12/03/2029 949,000 1,118,1574.272%, 01/15/2036 362,000 436,1624.400%, 11/01/2034 1,768,000 2,169,3154.522%, 09/15/2048 1,028,000 1,339,189

ViacomCBS, Inc.4.200%, 05/19/2032 2,477,000 2,557,3964.375%, 03/15/2043 246,000 234,5634.600%, 01/15/2045 158,000 152,8804.750%, 05/15/2025 1,398,000 1,538,0714.950%, 01/15/2031 799,000 884,1195.850%, 09/01/2043 591,000 639,897

Vodafone Group PLC4.250%, 09/17/2050 1,492,000 1,713,035

80,392,017


CORPORATE BONDS (continued)Consumer discretionary – 1.4%Advance Auto Parts, Inc.

3.900%, 04/15/2030 (D) $ 2,345,000 $ 2,395,056AutoNation, Inc.

4.750%, 06/01/2030 1,263,000 1,314,927Daimler Finance North America LLC

2.125%, 03/10/2025 (D) 2,381,000 2,298,714General Motors Company

5.400%, 04/01/2048 1,256,000 1,209,7885.950%, 04/01/2049 218,000 223,930

General Motors Financial Company, Inc.2.900%, 02/26/2025 2,134,000 2,072,6213.950%, 04/13/2024 213,000 213,7694.350%, 04/09/2025 458,000 465,3155.200%, 03/20/2023 2,608,000 2,714,999

Lowe’s Companies, Inc.4.000%, 04/15/2025 914,000 1,033,2305.000%, 04/15/2040 1,030,000 1,314,7695.125%, 04/15/2050 276,000 371,536

Marriott International, Inc.4.625%, 06/15/2030 1,981,000 2,027,244

McDonald’s Corp.1.450%, 09/01/2025 1,687,000 1,719,8742.125%, 03/01/2030 240,000 242,8032.625%, 09/01/2029 500,000 521,382

NIKE, Inc.2.400%, 03/27/2025 1,246,000 1,336,6152.750%, 03/27/2027 831,000 908,6152.850%, 03/27/2030 819,000 910,0413.375%, 03/27/2050 949,000 1,097,188

O’Reilly Automotive, Inc.4.200%, 04/01/2030 1,732,000 1,954,512

Starbucks Corp.1.300%, 05/07/2022 1,000,000 1,013,1672.550%, 11/15/2030 858,000 876,3903.350%, 03/12/2050 423,000 419,2363.500%, 11/15/2050 604,000 616,208

The Home Depot, Inc.2.500%, 04/15/2027 1,042,000 1,134,7492.700%, 04/15/2030 434,000 473,6942.950%, 06/15/2029 136,000 151,0263.125%, 12/15/2049 1,845,000 2,013,786

The Leland Stanford Junior University1.289%, 06/01/2027 323,000 323,000

The Trustees of the University ofPennsylvania3.610%, 02/15/2119 954,000 1,077,984

Toyota Motor Credit Corp.1.350%, 08/25/2023 2,418,000 2,439,2192.150%, 02/13/2030 536,000 543,209

37,428,596Consumer staples – 2.0%Altria Group, Inc.

2.350%, 05/06/2025 1,286,000 1,332,1403.400%, 05/06/2030 1,034,000 1,090,7694.450%, 05/06/2050 1,054,000 1,137,788

Anheuser-Busch Companies LLC4.700%, 02/01/2036 1,530,000 1,744,4864.900%, 02/01/2046 246,000 285,258

Anheuser-Busch InBev Worldwide, Inc.4.150%, 01/23/2025 1,775,000 1,994,8004.600%, 04/15/2048 1,128,000 1,254,099

Bacardi, Ltd.5.300%, 05/15/2048 (D) 209,000 250,599

BAT Capital Corp.3.215%, 09/06/2026 890,000 926,751


11


CORPORATE BONDS (continued)Consumer staples (continued)BAT Capital Corp. (continued)

3.557%, 08/15/2027 $ 2,607,000 $ 2,739,1684.390%, 08/15/2037 126,000 132,2474.700%, 04/02/2027 1,803,000 2,016,516

Constellation Brands, Inc.3.200%, 02/15/2023 412,000 437,7543.700%, 12/06/2026 693,000 765,4113.750%, 05/01/2050 1,265,000 1,302,3464.400%, 11/15/2025 124,000 141,327

Costco Wholesale Corp.1.600%, 04/20/2030 4,776,000 4,813,0641.750%, 04/20/2032 1,225,000 1,232,305

Danone SA2.947%, 11/02/2026 (D) 4,882,000 5,322,962

Dollar General Corp.3.500%, 04/03/2030 955,000 1,067,9784.125%, 04/03/2050 181,000 215,228

General Mills, Inc.2.875%, 04/15/2030 2,571,000 2,763,789

Ingredion, Inc.2.900%, 06/01/2030 2,463,000 2,573,4673.900%, 06/01/2050 762,000 853,345

Keurig Dr Pepper, Inc.3.800%, 05/01/2050 822,000 894,807

Mondelez International, Inc.1.500%, 05/04/2025 1,667,000 1,699,862

PepsiCo, Inc.2.250%, 03/19/2025 1,096,000 1,170,8502.625%, 03/19/2027 738,000 807,111

Reynolds American, Inc.5.850%, 08/15/2045 923,000 1,107,036

Sysco Corp.6.600%, 04/01/2050 445,000 574,603

The Coca-Cola Company2.600%, 06/01/2050 1,957,000 1,926,456

The Procter & Gamble Company2.800%, 03/25/2027 403,000 447,0563.000%, 03/25/2030 516,000 591,2743.550%, 03/25/2040 260,000 313,6943.600%, 03/25/2050 439,000 551,174

Walmart, Inc.3.050%, 07/08/2026 792,000 888,3283.550%, 06/26/2025 1,752,000 1,978,4693.700%, 06/26/2028 2,061,000 2,437,6804.050%, 06/29/2048 22,000 28,250

51,810,247Energy – 2.9%BP Capital Markets America, Inc.

3.194%, 04/06/2025 2,095,000 2,272,9553.543%, 04/06/2027 2,111,000 2,300,118

Chevron Corp.1.141%, 05/11/2023 3,004,000 3,060,0001.554%, 05/11/2025 4,178,000 4,306,5481.995%, 05/11/2027 1,043,000 1,088,8842.236%, 05/11/2030 2,671,000 2,814,9313.078%, 05/11/2050 1,758,000 1,887,873

Devon Energy Corp.5.000%, 06/15/2045 447,000 396,5705.600%, 07/15/2041 635,000 588,492

Diamondback Energy, Inc.3.250%, 12/01/2026 2,012,000 1,953,834

Ecopetrol SA5.875%, 05/28/2045 839,000 872,5606.875%, 04/29/2030 2,217,000 2,530,706


CORPORATE BONDS (continued)Energy (continued)Enbridge, Inc.

2.500%, 01/15/2025 $ 3,724,000 $ 3,833,4763.125%, 11/15/2029 1,715,000 1,776,748

Energy Transfer Operating LP6.050%, 06/01/2041 394,000 415,0506.125%, 12/15/2045 331,000 345,576

Enterprise Products Operating LLC3.700%, 01/31/2051 788,000 792,6983.950%, 01/31/2060 872,000 872,0264.200%, 01/31/2050 319,000 342,507

EOG Resources, Inc.4.375%, 04/15/2030 1,552,000 1,831,189

Equinor ASA1.750%, 01/22/2026 1,207,000 1,232,7842.375%, 05/22/2030 805,000 829,9523.250%, 11/18/2049 619,000 651,603

Exxon Mobil Corp.1.571%, 04/15/2023 3,831,000 3,933,8502.992%, 03/19/2025 799,000 874,6823.452%, 04/15/2051 692,000 756,678

Magellan Midstream Partners LP3.250%, 06/01/2030 1,612,000 1,673,065

Marathon Oil Corp.4.400%, 07/15/2027 1,547,000 1,415,247

Marathon Petroleum Corp.3.625%, 09/15/2024 2,220,000 2,307,9794.500%, 05/01/2023 to 04/01/2048 1,010,000 1,050,5474.700%, 05/01/2025 1,472,000 1,621,6754.750%, 12/15/2023 675,000 728,443

Noble Energy, Inc.3.850%, 01/15/2028 399,000 362,8803.900%, 11/15/2024 922,000 911,3624.200%, 10/15/2049 1,187,000 962,1284.950%, 08/15/2047 995,000 850,160

ONEOK, Inc.3.400%, 09/01/2029 161,000 148,820

Ovintiv, Inc.6.500%, 02/01/2038 423,000 322,9786.625%, 08/15/2037 443,000 329,623

Petroleos Mexicanos2.378%, 04/15/2025 437,500 454,0892.460%, 12/15/2025 2,040,600 2,121,918

Plains All American Pipeline LP3.550%, 12/15/2029 1,593,000 1,504,5624.900%, 02/15/2045 366,000 333,876

Schlumberger Finance Canada, Ltd.2.650%, 11/20/2022 (D) 851,000 864,136

Suncor Energy, Inc.2.800%, 05/15/2023 2,075,000 2,125,8463.100%, 05/15/2025 1,672,000 1,749,979

Sunoco Logistics Partners Operations LP5.300%, 04/01/2044 529,000 521,9515.350%, 05/15/2045 108,000 105,460

Tennessee Gas Pipeline Company LLC2.900%, 03/01/2030 (D) 2,127,000 2,154,215

The Williams Companies, Inc.3.900%, 01/15/2025 597,000 638,5735.400%, 03/04/2044 845,000 929,288

Total Capital International SA3.127%, 05/29/2050 1,233,000 1,245,775

TransCanada PipeLines, Ltd.3.750%, 10/16/2023 1,995,000 2,145,4554.625%, 03/01/2034 589,000 674,9244.875%, 01/15/2026 247,000 286,265


12


CORPORATE BONDS (continued)Energy (continued)Transcontinental Gas Pipe Line

Company LLC3.250%, 05/15/2030 (D) $ 834,000 $ 887,5023.950%, 05/15/2050 (D) 1,428,000 1,515,534

75,506,545Financials – 9.0%American Financial Group, Inc.

5.250%, 04/02/2030 2,170,000 2,416,331American International Group, Inc.

2.500%, 06/30/2025 4,773,000 4,937,1183.400%, 06/30/2030 1,777,000 1,864,6854.200%, 04/01/2028 1,266,000 1,406,8034.500%, 07/16/2044 1,128,000 1,266,3714.750%, 04/01/2048 1,748,000 2,026,301

Ameriprise Financial, Inc.3.000%, 04/02/2025 1,418,000 1,522,659

Asian Development Bank0.625%, 04/07/2022 7,527,000 7,568,658

Athene Holding, Ltd.6.150%, 04/03/2030 2,646,000 2,890,088

Banco Santander Mexico SA5.375%, 04/17/2025 (D) 999,000 1,070,179

Banco Santander SA2.746%, 05/28/2025 1,600,000 1,633,0523.490%, 05/28/2030 600,000 614,349

Bank of America Corp.4.125%, 01/22/2024 282,000 310,6234.183%, 11/25/2027 2,388,000 2,678,767

Bank of America Corp. (2.456% to10-22-24, then 3 month LIBOR +0.870%) 10/22/2025 5,131,000 5,339,383

Bank of America Corp. (2.592% to4-29-30, then SOFR + 2.150%)04/29/2031 761,000 782,188





Barclays PLC (5.088% to 6-20-29, then3 month LIBOR + 3.054%)06/20/2030 2,779,000 3,096,948

BNP Paribas SA (2.819% to 11-19-24,then 3 month LIBOR + 1.111%)11/19/2025 (D) 4,984,000 5,118,552

BNP Paribas SA (3.052% to 1-13-30,then SOFR + 1.507%) 01/13/2031 (D) 2,034,000 2,083,225

Brighthouse Financial, Inc.4.700%, 06/22/2047 945,000 832,381

Brookfield Finance, Inc.4.350%, 04/15/2030 1,672,000 1,829,752

Capital One Financial Corp.2.600%, 05/11/2023 5,622,000 5,772,9303.650%, 05/11/2027 1,598,000 1,667,414

Citigroup, Inc.3.200%, 10/21/2026 1,562,000 1,671,363

Citigroup, Inc. (2.572% to 6-3-30, thenSOFR + 2.107%) 06/03/2031 3,233,000 3,229,755


CORPORATE BONDS (continued)Financials (continued)Citigroup, Inc. (2.976% to 11-5-29, then

SOFR + 1.422%) 11/05/2030 $ 2,404,000 $ 2,499,299Citigroup, Inc. (3.106% to 4-8-25, then

SOFR + 2.750%) 04/08/2026 9,059,000 9,537,422Citigroup, Inc. (4.412% to 3-31-30, then

SOFR + 3.914%) 03/31/2031 5,396,000 6,214,765Credit Agricole SA

2.375%, 01/22/2025 (D) 3,143,000 3,265,013Credit Suisse Group AG

3.574%, 01/09/2023 (D) 4,173,000 4,302,393Credit Suisse Group AG (2.997% to

12-14-22, then 3 month LIBOR +1.200%) 12/14/2023 (D) 1,471,000 1,517,183

Credit Suisse Group FundingGuernsey, Ltd.3.800%, 06/09/2023 1,326,000 1,407,652

Danske Bank A/S5.000%, 01/12/2022 (D) 2,133,000 2,234,802

Danske Bank A/S (3.001% to 9-20-21,then 3 month LIBOR + 1.249%)09/20/2022 (D) 4,164,000 4,206,239

Danske Bank A/S (3.244% to 12-20-24,then 3 month LIBOR + 1.591%)12/20/2025 (D) 3,884,000 3,966,637

Element Fleet Management Corp.3.850%, 06/15/2025 (D) 1,617,000 1,623,239

Federal Realty Investment Trust3.950%, 01/15/2024 1,252,000 1,300,530

GE Capital Funding LLC3.450%, 05/15/2025 (D) 3,378,000 3,432,876

GE Capital International FundingCompany Unlimited Company4.418%, 11/15/2035 3,420,000 3,414,641

Inter-American Development Bank0.875%, 04/03/2025 3,328,000 3,383,797

JPMorgan Chase & Co.2.950%, 10/01/2026 250,000 269,520

JPMorgan Chase & Co. (1.514% to6-1-23, then SOFR + 1.455%)06/01/2024 8,051,000 8,107,576



JPMorgan Chase & Co. (3.207% to4-1-22, then 3 month LIBOR +0.695%) 04/01/2023 2,751,000 2,857,895

JPMorgan Chase & Co. (4.493% to3-24-30, then SOFR + 3.790%)03/24/2031 958,000 1,137,804

Landwirtschaftliche Rentenbank0.500%, 05/27/2025 4,831,000 4,825,883

Lincoln National Corp.3.050%, 01/15/2030 2,751,000 2,750,333

Lloyds Banking Group PLC (3.870% to7-9-24, then 1 Year CMT + 3.500%)07/09/2025 4,678,000 4,968,016

MDGH - GMTN BV2.875%, 11/07/2029 (D) 1,466,000 1,519,143

Morgan Stanley2.750%, 05/19/2022 3,141,000 3,261,252


13


CORPORATE BONDS (continued)Financials (continued)Nationwide Building Society (4.363% to

8-1-23, then 3 month LIBOR +1.392%) 08/01/2024 (D) $ 1,634,000 $ 1,749,085

Nationwide Financial Services, Inc.3.900%, 11/30/2049 (D) 2,025,000 1,981,117

Nationwide Mutual Insurance Company4.350%, 04/30/2050 (D) 1,055,000 1,072,129

Nomura Holdings, Inc.2.648%, 01/16/2025 1,591,000 1,642,9373.103%, 01/16/2030 4,147,000 4,179,654

Prudential Financial, Inc.1.500%, 03/10/2026 3,211,000 3,237,6704.350%, 02/25/2050 813,000 928,229

Realty Income Corp.3.250%, 01/15/2031 1,800,000 1,839,701

Regency Centers LP3.700%, 06/15/2030 588,000 604,952

Santander Holdings USA, Inc.3.450%, 06/02/2025 2,426,000 2,449,615

Scentre Group Trust3.625%, 01/28/2026 (D) 1,248,000 1,266,800

Societe Generale SA2.625%, 10/16/2024 to 01/22/2025 (D) 4,385,000 4,403,013

Standard Chartered PLC (4.644% to4-1-30, then 5 Year CMT + 3.850%)04/01/2031 (D) 406,000 452,774

State Street Corp. (2.825% to 3-30-22,then SOFR + 2.690%) 03/30/2023 (D) 2,166,000 2,239,761

Swedish Export Credit0.750%, 04/06/2023 4,416,000 4,447,458

The Charles Schwab Corp.3.250%, 05/22/2029 2,345,000 2,590,6964.625%, 03/22/2030 1,449,000 1,778,693

The Goldman Sachs Group, Inc.3.500%, 04/01/2025 to 11/16/2026 13,072,000 14,045,3793.850%, 01/26/2027 1,400,000 1,542,4364.000%, 03/03/2024 364,000 398,7076.750%, 10/01/2037 1,433,000 1,981,708

The Goldman Sachs Group, Inc. (3.272%to 9-29-24, then 3 month LIBOR +1.201%) 09/29/2025 412,000 436,062

The Royal Bank of Scotland Group PLC(2.359% to 5-22-23, then 1 Year CMT+ 2.150%) 05/22/2024 695,000 701,882

The Royal Bank of Scotland Group PLC(3.073% to 5-22-27, then 1 Year CMT+ 2.550%) 05/22/2028 1,258,000 1,287,618

The Royal Bank of Scotland Group PLC(3.754% to 11-1-24, then 5 Year CMT+ 2.100%) 11/01/2029 1,384,000 1,400,046

The Royal Bank of Scotland Group PLC(4.445% to 5-8-29, then 3 monthLIBOR + 1.871%) 05/08/2030 1,280,000 1,445,266

Truist Bank2.250%, 03/11/2030 1,283,000 1,267,681

Trust Fibra Uno6.390%, 01/15/2050 (D) 860,000 788,973

UBS Group AG (2.859% to 8-15-22,then 3 month LIBOR + 0.954%)08/15/2023 (D) 3,903,000 4,023,012

236,726,974Health care – 4.4%Abbott Laboratories

3.750%, 11/30/2026 991,000 1,160,887


CORPORATE BONDS (continued)Health care (continued)AbbVie, Inc.

2.300%, 11/21/2022 (D) $ 6,665,000 $ 6,879,8442.600%, 11/21/2024 (D) 2,954,000 3,102,7022.900%, 11/06/2022 2,283,000 2,391,0142.950%, 11/21/2026 (D) 843,000 903,8483.200%, 11/21/2029 (D) 2,385,000 2,555,4273.750%, 11/14/2023 228,000 247,9063.800%, 03/15/2025 (D) 3,930,000 4,328,6694.050%, 11/21/2039 (D) 979,000 1,098,5504.250%, 11/21/2049 (D) 1,624,000 1,860,558

Aetna, Inc.3.875%, 08/15/2047 669,000 733,686

Amgen, Inc.2.200%, 02/21/2027 1,250,000 1,302,9502.300%, 02/25/2031 1,673,000 1,728,5303.150%, 02/21/2040 925,000 965,6303.375%, 02/21/2050 839,000 888,249

Anthem, Inc.2.250%, 05/15/2030 2,083,000 2,138,5113.125%, 05/15/2050 838,000 861,1753.650%, 12/01/2027 1,079,000 1,220,849

Becton, Dickinson and Company2.404%, 06/05/2020 2,747,000 2,746,731

Biogen, Inc.3.150%, 05/01/2050 1,024,000 991,504

Bristol-Myers Squibb Company2.600%, 05/16/2022 (D) 1,760,000 1,833,1022.750%, 02/15/2023 (D) 2,938,000 3,086,1632.875%, 02/19/2021 (D) 815,000 829,8192.900%, 07/26/2024 (D) 2,837,000 3,062,6903.200%, 06/15/2026 (D) 1,705,000 1,912,3643.400%, 07/26/2029 (D) 674,000 770,7183.450%, 11/15/2027 (D) 1,217,000 1,392,2723.875%, 08/15/2025 (D) 939,000 1,066,9813.900%, 02/20/2028 (D) 1,305,000 1,514,2304.125%, 06/15/2039 (D) 209,000 264,5824.250%, 10/26/2049 (D) 687,000 903,2794.350%, 11/15/2047 (D) 404,000 522,206

Cigna Corp.3.400%, 09/17/2021 to 03/15/2050 2,272,000 2,366,6223.400%, 03/01/2027 (D) 2,052,000 2,252,2013.750%, 07/15/2023 1,538,000 1,673,3893.875%, 10/15/2047 (D) 1,670,000 1,890,8254.375%, 10/15/2028 397,000 465,916

CVS Health Corp.3.000%, 08/15/2026 910,000 993,9483.625%, 04/01/2027 1,302,000 1,429,0403.700%, 03/09/2023 2,251,000 2,411,3774.000%, 12/05/2023 1,229,000 1,339,5764.780%, 03/25/2038 606,000 737,867

Danaher Corp.3.350%, 09/15/2025 790,000 869,362

Dentsply Sirona, Inc.3.250%, 06/01/2030 1,190,000 1,218,131

DH Europe Finance II Sarl2.050%, 11/15/2022 1,347,000 1,387,7652.200%, 11/15/2024 2,306,000 2,409,8902.600%, 11/15/2029 2,899,000 3,047,4673.400%, 11/15/2049 703,000 780,760

Eli Lilly And Company2.250%, 05/15/2050 1,191,000 1,120,718

Merck & Company, Inc.3.700%, 02/10/2045 587,000 707,951

Novartis Capital Corp.2.000%, 02/14/2027 1,575,000 1,664,179


14


CORPORATE BONDS (continued)Health care (continued)Novartis Capital Corp. (continued)

2.200%, 08/14/2030 $ 4,151,000 $ 4,381,804Pfizer, Inc.

1.700%, 05/28/2030 2,817,000 2,826,6952.550%, 05/28/2040 1,610,000 1,627,4902.700%, 05/28/2050 1,610,000 1,622,4322.800%, 03/11/2022 811,000 845,537

Shire Acquisitions InvestmentsIreland DAC2.875%, 09/23/2023 1,752,000 1,847,6013.200%, 09/23/2026 1,972,000 2,177,009

Stryker Corp.1.150%, 06/15/2025 1,690,000 1,688,3111.950%, 06/15/2030 1,536,000 1,528,2762.900%, 06/15/2050 1,183,000 1,187,618

Takeda Pharmaceutical Company, Ltd.4.400%, 11/26/2023 1,642,000 1,824,045

Thermo Fisher Scientific, Inc.4.497%, 03/25/2030 3,141,000 3,837,832

UnitedHealth Group, Inc.2.000%, 05/15/2030 1,261,000 1,298,4762.375%, 08/15/2024 455,000 483,8392.750%, 05/15/2040 1,004,000 1,043,3862.900%, 05/15/2050 672,000 698,0063.125%, 05/15/2060 418,000 439,9603.500%, 08/15/2039 289,000 332,6413.700%, 12/15/2025 910,000 1,036,0893.750%, 10/15/2047 725,000 857,5123.875%, 08/15/2059 430,000 517,070

116,134,239Industrials – 1.7%AerCap Ireland Capital DAC

3.500%, 05/26/2022 828,000 767,6903.950%, 02/01/2022 458,000 431,5914.450%, 04/03/2026 526,000 456,2064.625%, 07/01/2022 389,000 366,5954.875%, 01/16/2024 749,000 669,693

Burlington Northern Santa Fe LLC3.050%, 02/15/2051 563,000 583,848

Crowley Conro LLC4.181%, 08/15/2043 878,900 1,106,004

CSX Corp.2.400%, 02/15/2030 254,000 265,5924.300%, 03/01/2048 108,000 131,4014.750%, 11/15/2048 585,000 750,736

Deere & Company2.750%, 04/15/2025 1,760,000 1,908,3313.750%, 04/15/2050 774,000 933,815

General Dynamics Corp.3.250%, 04/01/2025 1,057,000 1,170,5134.250%, 04/01/2040 352,000 436,621

General Electric Company3.100%, 01/09/2023 295,000 303,8333.450%, 05/01/2027 2,356,000 2,332,6233.625%, 05/01/2030 1,288,000 1,273,7935.875%, 01/14/2038 130,000 145,193

Hutama Karya Persero PT3.750%, 05/11/2030 (D) 933,000 968,585

International Lease Finance Corp.5.875%, 08/15/2022 609,000 618,087

John Deere Capital Corp.1.200%, 04/06/2023 1,986,000 2,011,5881.750%, 03/09/2027 1,191,000 1,219,823

Northrop Grumman Corp.2.550%, 10/15/2022 2,665,000 2,789,863


CORPORATE BONDS (continued)Industrials (continued)Northrop Grumman Corp. (continued)

2.930%, 01/15/2025 $ 120,000 $ 130,0493.250%, 08/01/2023 to 01/15/2028 3,980,000 4,347,6244.030%, 10/15/2047 876,000 1,061,3985.150%, 05/01/2040 1,315,000 1,767,906

Otis Worldwide Corp.2.565%, 02/15/2030 (D) 826,000 834,442

The Boeing Company2.700%, 02/01/2027 1,209,000 1,125,5782.950%, 02/01/2030 1,282,000 1,221,0695.805%, 05/01/2050 902,000 1,020,991

Union Pacific Corp.2.150%, 02/05/2027 1,335,000 1,400,8802.400%, 02/05/2030 1,652,000 1,725,2622.950%, 03/01/2022 1,496,000 1,557,6213.150%, 03/01/2024 715,000 772,8263.250%, 02/05/2050 2,119,000 2,241,5413.750%, 02/05/2070 268,000 292,3174.300%, 03/01/2049 221,000 277,835

United Technologies Corp.3.650%, 08/16/2023 159,000 172,5893.950%, 08/16/2025 1,203,000 1,368,5734.450%, 11/16/2038 1,120,000 1,349,177

44,309,702Information technology – 2.7%Adobe, Inc.

2.300%, 02/01/2030 2,997,000 3,199,049Apple, Inc.

2.050%, 09/11/2026 2,704,000 2,887,8362.650%, 05/11/2050 1,117,000 1,145,7512.950%, 09/11/2049 173,000 186,8833.200%, 05/13/2025 620,000 696,6324.250%, 02/09/2047 738,000 960,957

Broadcom Corp.3.875%, 01/15/2027 2,045,000 2,151,658

Broadcom, Inc.3.150%, 11/15/2025 (D) 4,409,000 4,569,4104.150%, 11/15/2030 (D) 3,751,000 3,899,0124.250%, 04/15/2026 (D) 1,447,000 1,549,3194.700%, 04/15/2025 (D) 1,980,000 2,169,8945.000%, 04/15/2030 (D) 1,052,000 1,161,343

Fiserv, Inc.3.200%, 07/01/2026 1,447,000 1,574,3583.500%, 07/01/2029 1,446,000 1,595,7894.200%, 10/01/2028 144,000 166,884

IBM Corp.3.300%, 05/15/2026 457,000 511,8374.150%, 05/15/2039 655,000 778,984

Intel Corp.2.450%, 11/15/2029 996,000 1,067,3284.600%, 03/25/2040 857,000 1,113,334

KLA Corp.3.300%, 03/01/2050 1,069,000 1,074,460

Lam Research Corp.1.900%, 06/15/2030 1,437,000 1,445,2222.875%, 06/15/2050 1,417,000 1,434,8793.125%, 06/15/2060 583,000 604,744

Mastercard, Inc.3.300%, 03/26/2027 862,000 977,4643.850%, 03/26/2050 141,000 178,748

Micron Technology, Inc.2.497%, 04/24/2023 2,500,000 2,559,571

Microsoft Corp.2.875%, 02/06/2024 514,000 556,8964.000%, 02/12/2055 1,101,000 1,439,158


15


CORPORATE BONDS (continued)Information technology (continued)Microsoft Corp. (continued)

4.100%, 02/06/2037 $ 1,374,000 $ 1,746,516NVIDIA Corp.

3.500%, 04/01/2040 to 04/01/2050 3,040,000 3,460,076NXP BV

2.700%, 05/01/2025 (D) 798,000 822,9813.150%, 05/01/2027 (D) 1,357,000 1,387,7973.400%, 05/01/2030 (D) 1,716,000 1,782,9543.875%, 06/18/2026 (D) 2,989,000 3,228,3354.300%, 06/18/2029 (D) 1,130,000 1,238,174

Oracle Corp.2.625%, 02/15/2023 1,118,000 1,178,6282.800%, 04/01/2027 2,575,000 2,792,1062.950%, 11/15/2024 597,000 649,8983.800%, 11/15/2037 610,000 693,8833.850%, 04/01/2060 1,422,000 1,624,4584.000%, 11/15/2047 1,298,000 1,524,656

PayPal Holdings, Inc.1.350%, 06/01/2023 2,172,000 2,206,4281.650%, 06/01/2025 3,041,000 3,114,657

Texas Instruments, Inc.1.375%, 03/12/2025 1,003,000 1,031,182

70,140,129Materials – 0.9%Air Products and Chemicals, Inc.

2.700%, 05/15/2040 402,000 416,733Barrick North America Finance LLC

5.700%, 05/30/2041 1,030,000 1,367,9545.750%, 05/01/2043 392,000 538,758

DuPont de Nemours, Inc.4.205%, 11/15/2023 2,232,000 2,427,1444.493%, 11/15/2025 1,589,000 1,802,737

Georgia-Pacific LLC1.750%, 09/30/2025 (D) 2,653,000 2,709,7202.100%, 04/30/2027 (D) 1,281,000 1,303,4232.300%, 04/30/2030 (D) 2,104,000 2,149,278

International Paper Company4.400%, 08/15/2047 801,000 893,739

Newmont Corp.2.250%, 10/01/2030 1,349,000 1,334,753

Nucor Corp.2.000%, 06/01/2025 842,000 857,0982.700%, 06/01/2030 842,000 856,155

Nutrien, Ltd.2.950%, 05/13/2030 1,082,000 1,129,2085.000%, 04/01/2049 1,219,000 1,499,689

Packaging Corp. of America3.000%, 12/15/2029 736,000 773,147

Teck Resources, Ltd.6.250%, 07/15/2041 682,000 687,162

The Mosaic Company5.450%, 11/15/2033 116,000 117,8935.625%, 11/15/2043 564,000 576,186

WRKCo, Inc.4.900%, 03/15/2029 961,000 1,105,858

22,546,635Real estate – 0.9%Alexandria Real Estate Equities, Inc.

4.900%, 12/15/2030 862,000 1,046,165Crown Castle International Corp.

3.300%, 07/01/2030 2,264,000 2,448,9774.000%, 03/01/2027 396,000 442,823

Equinix, Inc.2.625%, 11/18/2024 1,069,000 1,128,0092.900%, 11/18/2026 2,372,000 2,504,524


CORPORATE BONDS (continued)Real estate (continued)GLP Capital LP

4.000%, 01/15/2030 $ 651,000 $ 567,9985.300%, 01/15/2029 853,000 818,880

Mid-America Apartments LP3.600%, 06/01/2027 126,000 134,5593.750%, 06/15/2024 1,974,000 2,032,8313.950%, 03/15/2029 849,000 938,5284.000%, 11/15/2025 1,034,000 1,074,6234.300%, 10/15/2023 866,000 904,556

Regency Centers LP2.950%, 09/15/2029 1,838,000 1,764,935

Spirit Realty LP3.400%, 01/15/2030 1,018,000 874,5004.000%, 07/15/2029 457,000 414,3214.450%, 09/15/2026 97,000 92,864

STORE Capital Corp.4.500%, 03/15/2028 3,180,000 2,991,9944.625%, 03/15/2029 1,007,000 936,595

Ventas Realty LP4.750%, 11/15/2030 1,744,000 1,814,807

22,932,489Utilities – 2.7%Alabama Power Company

3.450%, 10/01/2049 1,690,000 1,837,928Ameren Corp.

3.500%, 01/15/2031 377,000 418,861Arizona Public Service Company

3.150%, 05/15/2025 1,993,000 2,175,939Black Hills Corp.

3.050%, 10/15/2029 2,731,000 2,786,2023.875%, 10/15/2049 760,000 762,608

CenterPoint Energy Resources Corp.4.100%, 09/01/2047 825,000 875,354

CenterPoint Energy, Inc.2.500%, 09/01/2022 to 09/01/2024 2,013,000 2,087,5762.950%, 03/01/2030 801,000 843,434

Consumers Energy Company2.500%, 05/01/2060 666,000 625,015

Dominion Energy, Inc.2.000%, 08/15/2021 1,189,000 1,204,512

Dominion Resources, Inc.2.850%, 08/15/2026 1,022,000 1,077,473

DTE Electric Company2.950%, 03/01/2050 1,741,000 1,799,030

DTE Energy Company2.529%, 10/01/2024 1,437,000 1,485,1262.950%, 03/01/2030 1,057,000 1,083,2083.800%, 03/15/2027 1,593,000 1,714,449

Duke Energy Corp.1.800%, 09/01/2021 1,779,000 1,800,1092.450%, 06/01/2030 1,299,000 1,337,5762.650%, 09/01/2026 1,103,000 1,180,560

Duke Energy Ohio, Inc.2.125%, 06/01/2030 1,207,000 1,240,212

Edison International4.125%, 03/15/2028 5,000 5,194

Evergy Kansas Central, Inc.3.450%, 04/15/2050 2,131,000 2,312,387

Evergy Metro, Inc.2.250%, 06/01/2030 1,609,000 1,652,379

Evergy, Inc.2.450%, 09/15/2024 1,579,000 1,651,6502.900%, 09/15/2029 1,457,000 1,519,144

Exelon Corp.4.700%, 04/15/2050 1,791,000 2,233,676


16


CORPORATE BONDS (continued)Utilities (continued)Exelon Generation Company LLC

3.250%, 06/01/2025 $ 2,232,000 $ 2,310,582FirstEnergy Corp.

2.850%, 07/15/2022 370,000 381,7513.900%, 07/15/2027 1,579,000 1,771,1814.250%, 03/15/2023 2,146,000 2,317,376

Interstate Power & Light Company3.500%, 09/30/2049 648,000 689,358

ITC Holdings Corp.2.700%, 11/15/2022 1,701,000 1,766,464

Metropolitan Edison Company4.300%, 01/15/2029 (D) 1,335,000 1,555,508

MidAmerican Energy Company3.650%, 08/01/2048 898,000 1,039,518

Mississippi Power Company3.950%, 03/30/2028 2,072,000 2,305,5494.250%, 03/15/2042 1,246,000 1,363,698

National Fuel Gas Company5.500%, 01/15/2026 421,000 429,456

NextEra Energy Capital Holdings, Inc.2.250%, 06/01/2030 2,515,000 2,562,0872.750%, 05/01/2025 2,588,000 2,767,559

NiSource, Inc.3.600%, 05/01/2030 466,000 526,620

Pennsylvania Electric Company3.250%, 03/15/2028 (D) 715,000 766,427

PPL Capital Funding, Inc.3.100%, 05/15/2026 2,052,000 2,187,0253.400%, 06/01/2023 244,000 255,2864.125%, 04/15/2030 2,192,000 2,474,7695.000%, 03/15/2044 1,132,000 1,345,210

Public Service Electric and GasCompany2.700%, 05/01/2050 1,751,000 1,749,455

Southern California Edison Company2.850%, 08/01/2029 (A) 860,000 896,2084.125%, 03/01/2048 1,378,000 1,555,5244.650%, 10/01/2043 404,000 470,209

Southern California Gas Company2.550%, 02/01/2030 1,234,000 1,312,8302.600%, 06/15/2026 484,000 519,098

Trans-Allegheny Interstate LineCompany3.850%, 06/01/2025 (D) 593,000 658,013

71,686,363TOTAL CORPORATE BONDS(Cost $789,858,354) $ 829,613,936

MUNICIPAL BONDS – 0.5%County of Clark Department of Aviation

(Nevada)6.820%, 07/01/2045 1,115,000 1,580,858

Los Angeles Community College District(California)6.750%, 08/01/2049 2,270,000 3,855,799

North Texas Tollway Authority6.718%, 01/01/2049 1,390,000 2,316,449

Port Authority of New York & NewJersey4.458%, 10/01/2062 3,060,000 3,862,148

State of California7.600%, 11/01/2040 410,000 729,091


MUNICIPAL BONDS (continued)The Ohio State University

4.800%, 06/01/2111 $ 600,000 $ 863,898University of Texas

2.439%, 08/15/2049 765,000 766,040TOTAL MUNICIPAL BONDS (Cost $11,974,917) $ 13,974,283

COLLATERALIZED MORTGAGE OBLIGATIONS – 7.9%Commercial and residential – 3.7%Angel Oak Mortgage Trust

Series 2020-2, Class A1A2.531%, 01/26/2065 (D)(E) 2,177,000 2,176,619

Angel Oak Mortgage Trust I LLCSeries 2019-2, Class A13.628%, 03/25/2049 (D)(E) 1,197,074 1,211,215

Benchmark Mortgage TrustSeries 2018-B1, Class ASB3.602%, 01/15/2051 (E) 532,000 578,040

Bunker Hill Loan Depositary TrustSeries 2019-1, Class A1,

3.613%, 10/26/2048 (D) 1,447,473 1,469,283Series 2019-2, Class A1,

2.879%, 07/25/2049 (D) 2,582,859 2,574,643CD Mortgage Trust

Series 2016-CD1, Class A1,1.443%, 08/10/2049 164,078 163,926

Series 2017-CD4, Class A4,3.514%, 05/10/2050 (E) 4,839,000 5,292,636

Series 2017-CD4, Class ASB,3.317%, 05/10/2050 702,000 748,639

Series 2017-CD6, Class ASB,3.332%, 11/13/2050 1,764,000 1,885,836

CFCRE Commercial Mortgage TrustSeries 2016-C3, Class A1,

1.793%, 01/10/2048 157,753 157,814Series 2017-C8, Class A1,

1.965%, 06/15/2050 119,571 119,713Series 2017-C8, Class ASB,

3.367%, 06/15/2050 733,000 780,249Citigroup Commercial Mortgage Trust

Series 2016-P5, Class A11.410%, 10/10/2049 1,023,360 1,022,505

COLT Mortgage Loan TrustSeries 2019-1, Class A1,

3.705%, 03/25/2049 (D)(E) 563,180 566,065Series 2019-2, Class A1,

3.337%, 05/25/2049 (D)(E) 1,882,263 1,893,605Series 2019-4, Class A1,

2.579%, 11/25/2049 (D)(E) 2,260,086 2,257,049Commercial Mortgage Trust (Cantor

Fitzgerald/Deutsche Bank AG)Series 2015-LC21, Class A4,

3.708%, 07/10/2048 753,000 819,083Series 2015-LC23, Class A4,

3.774%, 10/10/2048 1,507,000 1,647,111Series 2016-COR1, Class ASB,

2.972%, 10/10/2049 562,000 587,865CSAIL Commercial Mortgage Trust

Series 2015-C2, Class A4,3.504%, 06/15/2057 6,737,176 7,185,817

Series 2015-C4, Class A4,3.808%, 11/15/2048 1,802,000 1,925,230

Series 2016-C5, Class ASB,3.533%, 11/15/2048 279,000 293,022

DBJPM Mortgage TrustSeries 2017-C6, Class ASB3.121%, 06/10/2050 416,000 439,465


17


COLLATERALIZED MORTGAGEOBLIGATIONS (continued)Commercial andresidential (continued)GCAT LLC

Series 2019-NQM1, Class A12.985%, 02/25/2059 (D) $ 970,847 $ 976,215

GS Mortgage Securities TrustSeries 2014-GC18, Class A3,

3.801%, 01/10/2047 565,161 583,983Series 2015-GC28, Class A5,

3.396%, 02/10/2048 675,000 711,939Series 2015-GC34, Class A4,

3.506%, 10/10/2048 1,606,000 1,736,320Series 2020-GC47, Class A5,

2.377%, 05/12/2053 1,766,000 1,820,607Impact Funding Affordable Multifamily

Housing Mortgage Loan TrustSeries 2010-1, Class A15.314%, 01/25/2051 (D) 3,117,041 3,329,952

JPMBB Commercial MortgageSecurities TrustSeries 2014-C23, Class A4,

3.670%, 09/15/2047 793,000 846,425Series 2014-C26, Class A4,

3.494%, 01/15/2048 1,460,000 1,560,045Series 2015-C28, Class A3,

2.912%, 10/15/2048 2,889,381 3,018,203Series 2015-C29, Class A4,

3.611%, 05/15/2048 1,130,000 1,220,828Series 2015-C33, Class A4,

3.770%, 12/15/2048 437,000 478,667JPMCC Commercial Mortgage Securities

TrustSeries 2017-JP6, Class ASB3.283%, 07/15/2050 781,000 832,943

JPMDB Commercial MortgageSecurities TrustSeries 2017-C5, Class ASB,


4.145%, 06/15/2051 841,000 936,713Morgan Stanley Bank of America Merrill

Lynch TrustSeries 2013-C10, Class A4,

4.082%, 07/15/2046 (E) 260,000 275,571Series 2015-C20, Class A4,


3.383%, 10/15/2048 842,000 881,220Series 2015-C27, Class A4,

3.753%, 12/15/2047 226,000 242,441Morgan Stanley Capital I Trust

Series 2016-UB11, Class A1,1.445%, 08/15/2049 320,103 319,737

Series 2016-UB11, Class ASB,2.606%, 08/15/2049 646,000 665,596

New Residential Mortgage Loan TrustSeries 2019-NQM2, Class A1,

3.600%, 04/25/2049 (D)(E) 1,216,113 1,229,313Series 2019-NQM4, Class A1,

2.492%, 09/25/2059 (D)(E) 2,017,414 1,967,095SG Residential Mortgage Trust

Series 2019-3, Class A12.703%, 09/25/2059 (D)(E) 2,172,611 2,168,793


COLLATERALIZED MORTGAGEOBLIGATIONS (continued)Commercial andresidential (continued)Starwood Mortgage Residential Trust

Series 2019-INV1, Class A1,2.610%, 09/27/2049 (D)(E) $ 2,277,370 $ 2,250,402

Series 2020-1, Class A1,2.275%, 02/25/2050 (D)(E) 4,053,792 4,048,817

Verus Securitization TrustSeries 2019-1, Class A1,

3.836%, 02/25/2059 (D)(E) 1,396,604 1,410,079Series 2019-2, Class A1,

3.211%, 05/25/2059 (D)(E) 4,668,429 4,699,990Series 2019-3, Class A1,

2.784%, 07/25/2059 (D) 4,406,231 4,459,350Series 2019-4, Class A1,

2.642%, 11/25/2059 (D) 6,263,647 6,309,261Series 2019-INV1, Class A1,

3.402%, 12/25/2059 (D)(E) 1,248,979 1,267,052Series 2019-INV2, Class A1,

2.913%, 07/25/2059 (D)(E) 2,323,714 2,342,241Series 2019-INV3, Class A1,

2.692%, 11/25/2059 (D)(E) 2,731,348 2,685,384Series 2020-1, Class A1,

2.417%, 01/25/2060 (D)(E) 1,389,558 1,395,190Series 2020-2, Class A1,

2.226%, 05/25/2060 (D)(E) 3,445,000 3,441,791Visio Trust

Series 2019-1, Class A13.572%, 06/25/2054 (D)(E) 1,227,961 1,241,728

97,693,422U.S. Government Agency – 4.2%Federal Home Loan Mortgage Corp.

Series 264, Class 30,3.000%, 07/15/2042 4,454,225 4,812,760

Series 343, Class F4 (1 month LIBOR+ 0.350%),1.335%, 10/15/2037 (C) 2,614,056 2,601,543

Series 4205, Class PA,1.750%, 05/15/2043 1,862,541 1,914,625

Series 4426, Class QC,1.750%, 07/15/2037 2,955,878 3,047,078

Series 4705, Class A,4.500%, 09/15/2042 1,477,165 1,532,738

Series 4742, Class PA,3.000%, 10/15/2047 4,802,117 5,084,693

Series 4763, Class CA,3.000%, 09/15/2038 520,636 559,874

Series 4767, Class KA,3.000%, 03/15/2048 824,536 890,707

Series 4786, Class DP,4.500%, 07/15/2042 818,200 829,110

Series 4846, Class PF (1 monthLIBOR + 0.350%),0.534%, 12/15/2048 (C) 862,202 860,986

Series 4880, Class DA,3.000%, 05/15/2050 3,848,130 4,116,197

Federal National Mortgage AssociationSeries 1998-61, Class PL,

6.000%, 11/25/2028 211,689 240,916Series 2012-151, Class NX,

1.500%, 01/25/2043 2,311,459 2,378,905Series 2013-11, Class AP,

1.500%, 01/25/2043 5,582,105 5,686,533Series 2013-30, Class CA,

1.500%, 04/25/2043 528,158 537,867


18


COLLATERALIZED MORTGAGEOBLIGATIONS (continued)U.S. Government Agency (continued)Federal National

Mortgage Association (continued)Series 2013-43, Class BP,

1.750%, 05/25/2043 $ 2,609,813 $ 2,704,901Series 2014-73, Class MA,

2.500%, 11/25/2044 1,556,482 1,654,172Series 2015-84, Class PA,

1.700%, 08/25/2033 7,249,769 7,498,091Series 2016-48, Class MA,

2.000%, 06/25/2038 9,523,410 9,838,533Series 2016-57, Class PC,

1.750%, 06/25/2046 13,710,730 14,127,927Series 2017-13, Class PA,

3.000%, 08/25/2046 1,620,142 1,733,568Series 2017-42, Class H,

3.000%, 11/25/2043 1,888,457 1,952,489Series 2017-M7, Class A2,

2.961%, 02/25/2027 (E) 633,000 697,903Series 2018-14, Class KC,

3.000%, 03/25/2048 2,345,228 2,504,221Series 2018-15, Class AB,

3.000%, 03/25/2048 683,173 733,832Series 2018-8, Class KL,

2.500%, 03/25/2047 2,130,380 2,225,992Series 2019-25, Class PA,

3.000%, 05/25/2048 4,300,827 4,591,283Series 2019-35, Class MB,

3.000%, 07/25/2049 3,279,089 3,510,067Series 2019-8, Class GA,

3.000%, 03/25/2049 7,456,854 7,809,225Series 414, Class A35,

3.500%, 10/25/2042 2,230,912 2,504,671Government National

Mortgage AssociationSeries 2012-141, Class WA,

4.528%, 11/16/2041 (E) 491,737 568,037Series 2017-167, Class BQ,

2.500%, 08/20/2044 2,152,952 2,227,410Series 2019-132, Class NA,

3.500%, 09/20/2049 5,306,471 5,630,660Series 2019-31, Class JC,

3.500%, 03/20/2049 2,707,749 2,858,355110,465,869

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS(Cost $201,106,916) $ 208,159,291

ASSET BACKED SECURITIES – 8.3%Avis Budget Rental Car Funding

AESOP LLCSeries 2017-1A, Class A

3.070%, 09/20/2023 (D) 939,000 928,608Series 2019-3A, Class A

2.360%, 03/20/2026 (D) 1,615,000 1,543,918CNH Equipment Trust

Series 2020-A, Class A31.160%, 06/16/2025 1,960,000 1,963,496

Series 2020-A, Class A41.510%, 04/15/2027 551,000 552,221

College Ave Student Loans LLCSeries 2017-A, Class A1 (1 month

LIBOR + 1.650%)1.818%, 11/26/2046 (C)(D) 1,002,459 989,349

Series 2018-A, Class A24.130%, 12/26/2047 (D) 1,150,502 1,241,362


ASSET BACKED SECURITIES (continued)College Ave Student

Loans LLC (continued)Series 2019-A, Class A2

3.280%, 12/28/2048 (D) $ 1,139,375 $ 1,183,655Ford Credit Auto Owner Trust

Series 2017-2, Class A2.360%, 03/15/2029 (D) 4,660,000 4,704,994

Series 2018-1, Class A3.190%, 07/15/2031 (D) 9,678,000 10,133,579

Series 2018-2, Class A3.470%, 01/15/2030 (D) 4,408,000 4,577,229

Series 2019-1, Class A3.520%, 07/15/2030 (D) 3,514,000 3,691,835

Series 2020-1, Class A2.040%, 08/15/2031 (D) 7,009,000 7,038,217

Series 2020-A, Class A31.040%, 08/15/2024 2,036,000 2,057,001

Series 2020-A, Class A41.350%, 07/15/2025 1,013,000 1,029,686

GM Financial Consumer AutomobileReceivables TrustSeries 2020-2, Class A3

1.490%, 12/16/2024 389,000 396,852Series 2020-2, Class A4

1.740%, 08/18/2025 594,000 603,369Honda Auto Receivables 2020-2

Owner TrustSeries 2020-2, Class A3

0.820%, 07/15/2024 3,418,000 3,433,332Series 2020-2, Class A4

1.090%, 10/15/2026 1,167,000 1,178,465Navient Private Education Loan Trust

Series 2016-AA, Class A2B (1 monthLIBOR + 2.150%)2.334%, 12/15/2045 (C)(D) 714,165 719,586

Series 2018-BA, Class A2A3.610%, 12/15/2059 (D) 1,380,000 1,404,919

Navient Private Education RefiLoan TrustSeries 2018-A, Class A2

3.190%, 02/18/2042 (D) 7,668,000 7,739,725Series 2018-CA, Class A2

3.520%, 06/16/2042 (D) 750,000 762,462Series 2018-DA, Class A2A

4.000%, 12/15/2059 (D) 3,186,000 3,332,092Series 2019-CA, Class A2

3.130%, 02/15/2068 (D) 3,693,000 3,789,052Series 2019-D, Class A2A

3.010%, 12/15/2059 (D) 5,091,000 5,166,115Series 2019-FA, Class A2

2.600%, 08/15/2068 (D) 5,797,000 5,927,384Series 2019-GA, Class A

2.400%, 10/15/2068 (D) 5,205,180 5,275,926Series 2020-A, Class A2A

2.460%, 11/15/2068 (D) 2,761,000 2,746,964Series 2020-A, Class A2B (1 month

LIBOR + 0.900%)1.084%, 11/15/2068 (C)(D) 2,393,000 2,241,653

Series 2020-BA, Class A22.120%, 01/15/2069 (D) 2,124,000 2,100,034

Series 2020-CA, Class A2A2.150%, 11/15/2068 (D) 2,018,000 2,021,727

Navient Student Loan TrustSeries 2014-1, Class A3 (1 month

LIBOR + 0.510%)0.678%, 06/25/2031 (C) 2,067,073 1,978,138


19


ASSET BACKED SECURITIES (continued)Navient Student Loan Trust (continued)

Series 2016-1A, Class A (1 monthLIBOR + 0.700%)0.868%, 02/25/2070 (C)(D) $ 1,174,799 $ 1,102,221

Series 2016-3A, Class A2 (1 monthLIBOR + 0.850%)1.018%, 06/25/2065 (C)(D) 195,175 195,164

Series 2018-EA, Class A24.000%, 12/15/2059 (D) 1,964,000 2,017,472

Series 2019-BA, Class A2A3.390%, 12/15/2059 (D) 3,938,000 4,053,230

Nelnet Student Loan TrustSeries 2004-3, Class A5 (3 month

LIBOR + 0.180%)1.171%, 10/27/2036 (C) 627,967 612,109

Series 2004-4, Class A5 (3 monthLIBOR + 0.160%)1.151%, 01/25/2037 (C) 1,929,708 1,848,570




Series 2005-4, Class A4 (3 monthLIBOR + 0.180%)1.375%, 03/22/2032 (C) 645,700 596,512

Series 2012-2A, Class A (1 monthLIBOR + 0.800%)0.968%, 12/26/2033 (C)(D) 4,237,404 4,155,629

Series 2013-1A, Class A (1 monthLIBOR + 0.600%)0.768%, 06/25/2041 (C)(D) 1,894,851 1,756,582

Series 2014-1A, Class A (1 monthLIBOR + 0.570%)0.738%, 09/25/2041 (C)(D) 586,411 559,223

Santander Drive Auto Receivables TrustSeries 2020-1, Class A32.030%, 02/15/2024 1,025,000 1,036,624

Santander Revolving Auto Loan TrustSeries 2019-A, Class A2.510%, 01/26/2032 (D) 6,020,000 5,962,319

SLC Student Loan TrustSeries 2008-1, Class A4A (3 monthLIBOR + 1.600%)2.341%, 12/15/2032 (C) 1,653,141 1,626,525

SLM Student Loan TrustSeries 2003-1, Class A5C (3 month

LIBOR + 0.750%)1.491%, 12/15/2032 (C)(D) 904,462 823,650


Series 2010-1, Class A (1 monthLIBOR + 0.400%)0.568%, 03/25/2025 (C) 357,368 328,309


Series 2012-2, Class A (1 monthLIBOR + 0.700%)0.868%, 01/25/2029 (C) 3,021,209 2,782,833


ASSET BACKED SECURITIES (continued)SLM Student Loan Trust (continued)

Series 2012-6, Class A3 (1 monthLIBOR + 0.750%)0.918%, 05/26/2026 (C) $ 591,841 $ 543,049

Series 2013-4, Class A (1 monthLIBOR + 0.550%)0.718%, 06/25/2043 (C) 4,645,148 4,496,034

SMB Private Education Loan TrustSeries 2015-A, Class A2B (1 month

LIBOR + 1.000%)1.184%, 06/15/2027 (C)(D) 832,055 825,785

Series 2015-C, Class A2B (1 monthLIBOR + 1.400%)1.584%, 07/15/2027 (C)(D) 316,722 317,177

Series 2016-A, Class A2A2.700%, 05/15/2031 (D) 1,981,075 1,990,015

Series 2016-A, Class A2B (1 monthLIBOR + 1.500%)1.684%, 05/15/2031 (C)(D) 5,555,333 5,483,206

Series 2016-B, Class A2A2.430%, 02/17/2032 (D) 327,015 331,573

Series 2016-C, Class A2B (1 monthLIBOR + 1.100%)1.284%, 09/15/2034 (C)(D) 1,008,385 993,164

Series 2017-B, Class A2A2.820%, 10/15/2035 (D) 3,144,112 3,219,164

Series 2018-C, Class A2A3.630%, 11/15/2035 (D) 1,952,000 2,029,296

Series 2019-A, Class A2A3.440%, 07/15/2036 (D) 5,194,000 5,383,145

SoFi Professional Loan Program LLCSeries 2016-A, Class A2

2.760%, 12/26/2036 (D) 906,758 907,591Series 2016-D, Class A1 (1 month

LIBOR + 0.950%)1.118%, 01/25/2039 (C)(D) 88,994 88,766

Series 2016-E, Class A1 (1 monthLIBOR + 0.850%)1.018%, 07/25/2039 (C)(D) 195,071 193,622

Series 2017-A, Class A1 (1 monthLIBOR + 0.700%)0.868%, 03/26/2040 (C)(D) 332,243 329,318

Series 2017-C, Class A1 (1 monthLIBOR + 0.600%)0.768%, 07/25/2040 (C)(D) 466,472 461,299

Series 2017-D, Class A2FX2.650%, 09/25/2040 (D) 1,056,209 1,079,108

Series 2017-E, Class A1 (1 monthLIBOR + 0.500%)0.668%, 11/26/2040 (C)(D) 139,582 138,591

Series 2017-E, Class A2B2.720%, 11/26/2040 (D) 3,269,000 3,309,040

Series 2018-A, Class A2B2.950%, 02/25/2042 (D) 1,487,000 1,502,668

SoFi Professional Loan Program TrustSeries 2018-B, Class A2FX

3.340%, 08/25/2047 (D) 11,367,000 11,687,657Series 2020-A, Class A2FX

2.540%, 05/15/2046 (D) 4,799,000 4,924,837Series 2020-C, Class AFX

1.950%, 02/15/2046 (D) 4,105,000 4,105,000Toyota Auto Receivables 2020-B Owner

TrustSeries 2020-B, Class A31.360%, 08/15/2024 1,825,000 1,851,056


20


ASSET BACKED SECURITIES (continued)Verizon Owner Trust

Series 2019-C, Class A1A1.940%, 04/22/2024 $ 2,176,000 $ 2,229,139

Series 2020-A, Class A1A1.850%, 07/22/2024 5,078,000 5,211,384

Volkswagen Auto Loan Enhanced TrustSeries 2020-1, Class A3

0.980%, 11/20/2024 2,639,000 2,649,455Series 2020-1, Class A4

1.260%, 08/20/2026 925,000 930,956TOTAL ASSET BACKED SECURITIES(Cost $216,107,395) $ 216,177,294


0.3653% (F)(G) 303,211 3,035,661State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (F) 158,277,801 158,277,801

TOTAL SHORT-TERM INVESTMENTS (Cost $161,313,225) $ 161,313,462Total Investments (Core Bond Fund)


Security Abbreviations and LegendCMT Constant Maturity TreasuryLIBOR London Interbank Offered RateSOFR Secured Overnight Financing RateTBA To Be Announced. A forward mortgage-backed securities trade

issued by a U.S. Government Agency, to be delivered at anagreed-upon future settlement date.

(A) All or a portion of this security is on loan as of 5-31-20. The valueof securities on loan amounted to $2,974,816.

(B) Security purchased or sold on a when-issued or delayed deliverybasis.

(C) Variable rate obligation. The coupon rate shown represents the rateat period end.

(D) These securities are exempt from registration under Rule 144A ofthe Securities Act of 1933. Such securities may be resold, normallyto qualified institutional buyers, in transactions exempt fromregistration. Rule 144A securities amounted to $373,583,910 or14.3% of the fund’s net assets as of 5-31-20.

(E) Variable or floating rate security, the interest rate of which adjustsperiodically based on a weighted average of interest rates andprepayments on the underlying pool of assets. The interest rateshown is the current rate as of period end.

(F) The rate shown is the annualized seven-day yield as of 5-31-20.(G) Investment is an affiliate of the fund, the advisor and/or subadvisor.


Health Sciences FundShares orPrincipalAmount Value

COMMON STOCKS – 98.0%Consumer discretionary – 0.1%Specialty retail – 0.1%JAND, Inc., Class A (A)(B)(C) 16,938 $ 330,174Financials – 0.1%Insurance – 0.1%Selectquote, Inc. (C) 18,135 499,075

Health Sciences Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Health care – 97.5%Biotechnology – 37.6%AbbVie, Inc. 82,375 $ 7,633,691Abcam PLC 24,265 451,408ACADIA Pharmaceuticals, Inc. (C) 76,867 3,818,753Acceleron Pharma, Inc. (C) 34,309 3,390,758Acerta Pharma BV, Class B (A)(B)(C) 4,892,850 463,842ADC Therapeutics SA (C) 5,273 194,837Adverum Biotechnologies, Inc. (C) 35,077 723,639Agenus, Inc. (C) 8,863 33,059Agios Pharmaceuticals, Inc. (C) 16,816 870,060Aimmune Therapeutics, Inc. (C) 25,897 430,149Akero Therapeutics, Inc. (C) 4,748 120,694Alector, Inc. (C) 13,036 426,277Alexion Pharmaceuticals, Inc. (C) 45,913 5,504,969Alkermes PLC (C) 35,150 575,054Allakos, Inc. (C) 2,559 166,335Allogene Therapeutics, Inc. (C) 22,930 1,104,309Alnylam Pharmaceuticals, Inc. (C) 32,574 4,406,285Amarin Corp. PLC, ADR (C) 68,924 472,819Amgen, Inc. 34,098 7,832,311Apellis Pharmaceuticals, Inc. (C) 24,119 812,569Applied Therapeutics, Inc. (C) 800 36,416Aprea Therapeutics, Inc. (C) 3,100 83,266Arcturus Therapeutics Holdings, Inc. (C) 7,193 280,095Arcutis Biotherapeutics, Inc. (C) 6,408 214,988Ardelyx, Inc. (C) 35,520 260,362Argenx SE, ADR (C) 20,677 4,534,466Ascendis Pharma A/S, ADR (C) 26,952 3,921,246Assembly Biosciences, Inc. (C) 7,523 146,623Avrobio, Inc. (C) 7,029 142,126Beam Therapeutics, Inc. (C) 2,518 64,335BeiGene, Ltd., ADR (C) 6,487 1,073,858BELLUS Health, Inc. (C) 18,982 199,121Biogen, Inc. (C) 16,887 5,185,829BioMarin Pharmaceutical, Inc. (C) 21,606 2,302,119Bluebird Bio, Inc. (C) 12,726 809,755Blueprint Medicines Corp. (C) 15,161 987,588CareDx, Inc. (C) 3,285 105,514ChemoCentryx, Inc. (C) 4,382 273,393Constellation Pharmaceuticals, Inc. (C) 6,800 241,604Cortexyme, Inc. (C) 1,900 87,571CRISPR Therapeutics AG (C) 7,872 508,374Cyclerion Therapeutics, Inc. (C) 15,700 62,486Deciphera Pharmaceuticals, Inc. (C) 13,250 776,053Denali Therapeutics, Inc. (C) 19,545 543,937Dicerna Pharmaceuticals, Inc. (C) 27,212 586,963Enanta Pharmaceuticals, Inc. (C) 11,252 579,365Epizyme, Inc. (C) 18,157 318,655Esperion Therapeutics, Inc. (C) 4,200 177,954Exact Sciences Corp. (C) 34,517 2,964,320Exelixis, Inc. (C) 125,337 3,097,077Fate Therapeutics, Inc. (C) 12,657 410,467FibroGen, Inc. (C) 17,142 573,228G1 Therapeutics, Inc. (C) 7,497 127,224Galapagos NV (C) 2,271 460,714Global Blood Therapeutics, Inc. (C) 22,597 1,579,982Gritstone Oncology, Inc. (C) 9,300 60,078Halozyme Therapeutics, Inc. (C) 7,500 182,025Homology Medicines, Inc. (C) 15,913 226,601IGM Biosciences, Inc. (C) 6,999 453,395Immunomedics, Inc. (C) 36,840 1,237,456Incyte Corp. (C) 61,224 6,239,338Insmed, Inc. (C) 37,520 911,361Intercept Pharmaceuticals, Inc. (C) 5,936 428,935Ionis Pharmaceuticals, Inc. (C) 35,236 1,980,616


21


COMMON STOCKS (continued)Biotechnology (continued)Iovance Biotherapeutics, Inc. (C) 67,951 $ 2,180,548Kadmon Holdings, Inc. (C) 56,336 250,132Karuna Therapeutics, Inc. (C) 11,023 1,034,619Karyopharm Therapeutics, Inc. (C) 16,836 311,298Kodiak Sciences, Inc. (C) 30,596 1,976,808Krystal Biotech, Inc. (C) 7,663 393,955Mersana Therapeutics, Inc. (C) 9,341 211,480Mirati Therapeutics, Inc. (C) 10,303 1,021,955Moderna, Inc. (C) 13,098 805,527Momenta Pharmaceuticals, Inc. (C) 22,063 694,543MorphoSys AG (C) 3,745 488,634Neurocrine Biosciences, Inc. (C) 31,244 3,898,001Orchard Therapeutics PLC, ADR (C) 18,342 174,249Passage Bio, Inc. (C) 5,315 117,089PhaseBio Pharmaceuticals, Inc. (C) 14,617 87,848Principia Biopharma, Inc. (C) 9,994 638,517Progenics Pharmaceuticals, Inc. (C) 33,200 140,934Protagonist Therapeutics, Inc. (C) 15,682 259,223PTC Therapeutics, Inc. (C) 8,598 436,005Puma Biotechnology, Inc. (C) 19,196 195,991Radius Health, Inc. (C) 14,535 184,013RAPT Therapeutics, Inc. (C) 10,777 197,004Regeneron Pharmaceuticals, Inc. (C) 13,354 8,183,465REGENXBIO, Inc. (C) 7,407 278,948REVOLUTION Medicines, Inc. (C) 3,769 115,784Rocket Pharmaceuticals, Inc. (C) 17,467 328,554Sage Therapeutics, Inc. (C) 22,701 810,880Sarepta Therapeutics, Inc. (C) 15,078 2,295,927Scholar Rock Holding Corp. (C) 5,074 93,362Seattle Genetics, Inc. (C) 35,497 5,580,483Stoke Therapeutics, Inc. (C) 9,148 253,034Translate Bio, Inc. (C) 15,000 310,800Turning Point Therapeutics, Inc. (C) 9,993 692,015Ultragenyx Pharmaceutical, Inc. (C) 32,615 2,232,823uniQure NV (C) 5,700 382,812United Therapeutics Corp. (C) 4,600 542,570Vertex Pharmaceuticals, Inc. (C) 55,936 16,107,331Xencor, Inc. (C) 23,575 713,144Zai Lab, Ltd., ADR (C) 4,410 328,104Zealand Pharma A/S, ADR (C) 3,849 157,809Zeneca, Inc. (B)(C) 33,315 20,489Zentalis Pharmaceuticals, Inc. (C) 8,099 422,930Zymeworks, Inc. (C) 12,812 488,393

140,906,727Health care equipment and supplies – 20.4%Alcon, Inc. (C) 35,465 2,295,854AtriCure, Inc. (C) 16,904 808,180Becton, Dickinson and Company 45,213 11,164,446Danaher Corp. 46,438 7,737,035DexCom, Inc. (C) 11,115 4,204,916DiaSorin SpA 10,065 2,115,180Envista Holdings Corp. (C) 61,705 1,304,444GenMark Diagnostics, Inc. (C) 38,687 367,140Hologic, Inc. (C) 72,702 3,853,206ICU Medical, Inc. (C) 5,078 1,013,670Inari Medical, Inc. (C) 4,477 196,988Insulet Corp. (C) 8,800 1,659,416Intuitive Surgical, Inc. (C) 22,275 12,920,168iRhythm Technologies, Inc. (C) 7,451 926,234Lantheus Holdings, Inc. (C) 22,466 308,458Nevro Corp. (C) 16,981 2,132,814Novocure, Ltd. (C) 11,500 775,445Penumbra, Inc. (C) 9,647 1,663,336Quidel Corp. (C) 17,958 3,142,650Shockwave Medical, Inc. (C) 9,928 436,931


COMMON STOCKS (continued)Health care equipment and supplies (continued)Stryker Corp. 39,850 $ 7,799,841Tandem Diabetes Care, Inc. (C) 9,200 764,980Teleflex, Inc. 7,426 2,694,598The Cooper Companies, Inc. 7,220 2,288,596West Pharmaceutical Services, Inc. 14,501 3,132,796Zimmer Biomet Holdings, Inc. 7,174 906,363

76,613,685Health care providers and services – 15.9%Acadia Healthcare Company, Inc. (C) 16,917 483,995Amedisys, Inc. (C) 5,661 1,087,195Anthem, Inc. 17,097 5,028,399Cardinal Health, Inc. 11,000 601,590Centene Corp. (C) 115,731 7,667,179Cigna Corp. 34,717 6,850,358Guardant Health, Inc. (C) 9,772 883,291HCA Healthcare, Inc. 38,697 4,136,709Humana, Inc. 18,973 7,791,262McKesson Corp. 4,300 682,281Molina Healthcare, Inc. (C) 16,162 3,003,223Option Care Health, Inc. (C) 13,712 208,422The Pennant Group, Inc. (C) 17,090 435,624UnitedHealth Group, Inc. 68,184 20,785,886

59,645,414Health care technology – 1.1%HTG Molecular Diagnostics, Inc. (C) 32,915 17,442Livongo Health, Inc. (C) 5,800 347,594Phreesia, Inc. (C) 9,252 271,269Schrodinger, Inc. (C) 6,890 471,621Teladoc Health, Inc. (C) 4,800 835,488Veeva Systems, Inc., Class A (C) 9,514 2,082,329

4,025,743Life sciences tools and services – 8.0%10X Genomics, Inc., Class A (C) 7,749 604,190Adaptive Biotechnologies Corp. (C) 13,199 510,801Agilent Technologies, Inc. 60,740 5,353,624Avantor, Inc. (C) 110,231 2,091,082Bruker Corp. 41,463 1,794,519Compugen, Ltd. (C) 5,600 86,184Evotec SE (C) 36,895 1,004,230Lonza Group AG 2,483 1,226,156Mettler-Toledo International, Inc. (C) 1,381 1,097,895PPD, Inc. (C) 22,261 606,390PRA Health Sciences, Inc. (C) 10,508 1,087,578Quanterix Corp. (C) 19,629 541,564Repligen Corp. (C) 2,134 279,490Thermo Fisher Scientific, Inc. 37,961 13,255,602Wuxi Biologics Cayman, Inc. (C)(D) 29,500 465,857

30,005,162Pharmaceuticals – 14.5%Arvinas, Inc. (C) 3,000 99,810Astellas Pharma, Inc. 67,900 1,213,233AstraZeneca PLC, ADR 119,318 6,514,763Axsome Therapeutics, Inc. (C) 8,541 657,486Bayer AG 18,676 1,276,683Bristol-Myers Squibb Company 65,302 3,899,835Cara Therapeutics, Inc. (C) 22,624 359,043Catalent, Inc. (C) 19,623 1,525,296Chugai Pharmaceutical Company, Ltd. 20,600 3,044,105Daiichi Sankyo Company, Ltd. 28,800 2,706,199Eisai Company, Ltd. 17,000 1,334,350Elanco Animal Health, Inc. (C) 33,519 717,642Eli Lilly & Company 50,907 7,786,226GW Pharmaceuticals PLC, ADR (C) 5,791 710,845Horizon Therapeutics PLC (C) 15,700 796,461


22


COMMON STOCKS (continued)Pharmaceuticals (continued)Intra-Cellular Therapies, Inc. (C) 15,100 $ 315,288Ipsen SA 12,639 988,884Merck & Company, Inc. 62,533 5,047,664Milestone Pharmaceuticals, Inc. (C) 9,082 28,699MyoKardia, Inc. (C) 20,107 2,056,745Nektar Therapeutics (C) 19,098 414,427Novartis AG 19,054 1,658,763Novo Nordisk A/S, ADR 11,100 731,934Odonate Therapeutics, Inc. (C) 10,901 356,136Perrigo Company PLC 373 20,429Reata Pharmaceuticals, Inc., Class A (C) 5,286 768,162Roche Holding AG 17,569 6,098,578Sanofi 20,521 2,007,257Tricida, Inc. (C) 22,110 593,875WaVe Life Sciences, Ltd. (C) 20,428 207,957Zogenix, Inc. (C) 10,284 299,573

54,236,348365,433,079

Industrials – 0.3%Industrial conglomerates – 0.3%General Electric Company 149,046 979,232TOTAL COMMON STOCKS (Cost $270,257,538) $ 367,241,560

PREFERRED SECURITIES – 1.0%Consumer discretionary – 0.2%Specialty retail – 0.2%JAND, Inc., Series D (A)(B)(C) 37,822 737,268Health care – 0.6%Health care equipment and supplies – 0.6%Sartorius AG 5,768 2,150,254Pharmaceuticals – 0.0%Elanco Animal Health, Inc., 5.000% 1,374 52,253

2,202,507Information technology – 0.2%Software – 0.2%Doximity, Inc. (A)(B)(C) 63,738 910,816TOTAL PREFERRED SECURITIES (Cost $1,772,324) $ 3,850,591

RIGHTS – 0.1%Bristol-Myers Squibb Company

(Expiration Date: 3-31-21) (C)(E) 131,655 433,145TOTAL RIGHTS (Cost $363,553) $ 433,145

SHORT-TERM INVESTMENTS – 1.2%Short-term funds – 1.2%State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (F) 913,995 913,995

T. Rowe Price Government ReserveFund, 0.2523% (F) 3,518,664 3,518,664

TOTAL SHORT-TERM INVESTMENTS (Cost $4,432,659) $ 4,432,659Total Investments (Health Sciences Fund)

(Cost $276,826,074) – 100.3% $ 375,957,955Other assets and liabilities, net – (0.3%) (1,033,658)TOTAL NET ASSETS – 100.0% $ 374,924,297

Security Abbreviations and LegendADR American Depositary Receipt(A) Restricted security as to resale, excluding 144A securities. For more

information on this security refer to the Notes to Portfolio ofInvestments.

(B) Security is valued using significant unobservable inputs and isclassified as Level 3 in the fair value hierarchy.

Health Sciences Fund (continued)(C) Non-income producing security.(D) These securities are exempt from registration under Rule 144A of


(E) Strike price and/or expiration date not available.(F) The rate shown is the annualized seven-day yield as of 5-31-20.

High Yield FundShares orPrincipalAmount Value

FOREIGN GOVERNMENT OBLIGATIONS – 0.8%Argentina – 0.4%Provincia de Buenos Aires

7.875%, 06/15/2027 $ 870,000 $ 313,200Republic of Argentina

5.625%, 01/26/2022 470,000 185,6506.875%, 01/26/2027 430,000 156,5207.500%, 04/22/2026 330,000 126,228

781,598Brazil – 0.4%Federative Republic of Brazil

10.000%, 01/01/2021 to 01/01/2027 BRL 3,976,000 873,097Indonesia – 0.0%Republic of Indonesia

8.375%, 03/15/2034 IDR 543,000,000 38,400TOTAL FOREIGN GOVERNMENT OBLIGATIONS(Cost $3,374,320) $ 1,693,095

CORPORATE BONDS – 84.6%Communication services – 15.3%Allen Media LLC

10.500%, 02/15/2028 (A) $ 950,000 722,000Altice France Holding SA

10.500%, 05/15/2027 (A) 290,000 321,175Altice France SA

7.375%, 05/01/2026 (A) 2,930,000 3,091,150American Media LLC

10.500%, 12/31/2026 (A) 860,000 920,200CCO Holdings LLC

4.500%, 05/01/2032 (A) 260,000 268,5315.125%, 05/01/2027 (A) 1,270,000 1,333,5255.750%, 02/15/2026 (A) 215,000 224,176

CenturyLink, Inc.4.000%, 02/15/2027 (A) 370,000 368,964

Charter Communications Operating LLC6.484%, 10/23/2045 250,000 322,905

Cogent Communications Group, Inc.5.375%, 03/01/2022 (A) 1,030,000 1,058,016

CSC Holdings LLC6.500%, 02/01/2029 (A) 1,370,000 1,512,425

DISH DBS Corp.7.750%, 07/01/2026 2,450,000 2,541,875

iHeartCommunications, Inc.4.750%, 01/15/2028 (A) 280,000 268,6545.250%, 08/15/2027 (A) 780,000 764,166

Intelsat Jackson Holdings SA8.000%, 02/15/2024 (A)(B) 330,000 332,888

Lions Gate Capital Holdings LLC5.875%, 11/01/2024 (A) 1,000,000 970,000

Match Group, Inc.4.625%, 06/01/2028 (A) 660,000 678,1505.000%, 12/15/2027 (A) 400,000 418,584

Netflix, Inc.4.375%, 11/15/2026 320,000 339,0024.875%, 06/15/2030 (A) 500,000 539,8005.375%, 11/15/2029 (A) 770,000 854,7776.375%, 05/15/2029 490,000 574,525


23

High Yield Fund (continued)Shares orPrincipalAmount Value

CORPORATE BONDS (continued)Communication services (continued)Sirius XM Radio, Inc.

4.625%, 07/15/2024 (A) $ 290,000 $ 296,931Sprint Capital Corp.

8.750%, 03/15/2032 1,260,000 1,811,250Sprint Communications, Inc.

11.500%, 11/15/2021 841,000 939,397Sprint Corp.

7.250%, 09/15/2021 1,000,000 1,049,2007.625%, 02/15/2025 40,000 46,6507.875%, 09/15/2023 1,470,000 1,668,450

Telecom Italia SpA5.303%, 05/30/2024 (A) 1,000,000 1,047,330

Time Warner Cable LLC7.300%, 07/01/2038 680,000 906,717

Twitter, Inc.3.875%, 12/15/2027 (A) 480,000 478,200

Univision Communications, Inc.5.125%, 02/15/2025 (A) 650,000 621,4079.500%, 05/01/2025 (A) 650,000 695,500

UPC Holding BV5.500%, 01/15/2028 (A) 370,000 357,187

Virgin Media Secured Finance PLC5.500%, 08/15/2026 to 05/15/2029 (A) 1,940,000 2,026,275

30,369,982Consumer discretionary – 15.7%American Axle & Manufacturing, Inc.

6.500%, 04/01/2027 670,000 626,450Boyne USA, Inc.

7.250%, 05/01/2025 (A) 1,130,000 1,194,975Brinker International, Inc.

5.000%, 10/01/2024 (A) 420,000 375,900Carriage Services, Inc.

6.625%, 06/01/2026 (A) 730,000 762,850Century Communities, Inc.

5.875%, 07/15/2025 1,390,000 1,400,425Delphi Technologies PLC

5.000%, 10/01/2025 (A) 510,000 526,448ESH Hospitality, Inc.

4.625%, 10/01/2027 (A) 420,000 397,425Fontainebleau Las Vegas Holdings LLC

11.000%, 06/15/2015 (A)(B) 2,983,778 298Ford Motor Company

8.500%, 04/21/2023 20,000 20,7449.000%, 04/22/2025 1,060,000 1,114,325

Ford Motor Credit Company LLC3.087%, 01/09/2023 1,250,000 1,182,5003.096%, 05/04/2023 790,000 740,799

frontdoor, Inc.6.750%, 08/15/2026 (A) 1,000,000 1,070,000

General Motors Company5.400%, 10/02/2023 90,000 95,0666.125%, 10/01/2025 110,000 120,191

Golden Nugget, Inc.8.750%, 10/01/2025 (A) 660,000 435,600

Hanesbrands, Inc.4.625%, 05/15/2024 (A) 570,000 579,9754.875%, 05/15/2026 (A) 550,000 556,8755.375%, 05/15/2025 (A) 190,000 194,750

Hilton Domestic OperatingCompany, Inc.5.375%, 05/01/2025 (A) 410,000 419,3075.750%, 05/01/2028 (A) 290,000 299,425

Hilton Worldwide Finance LLC4.625%, 04/01/2025 240,000 238,200


CORPORATE BONDS (continued)Consumer discretionary (continued)Installed Building Products, Inc.

5.750%, 02/01/2028 (A) $ 500,000 $ 507,500IRB Holding Corp.

7.000%, 06/15/2025 (A) 370,000 383,875L Brands, Inc.

5.250%, 02/01/2028 1,560,000 1,320,150Lennar Corp.

4.750%, 11/29/2027 150,000 163,5005.875%, 11/15/2024 640,000 692,800

Levi Strauss & Company5.000%, 05/01/2025 160,000 163,200

Macy’s, Inc.8.375%, 06/15/2025 (A) 200,000 202,750

Marston’s Issuer PLC (3 month GBPLIBOR + 2.550%) 3.218%,07/15/2035 (C) GBP 380,000 380,716

Melco Resorts Finance, Ltd.5.375%, 12/04/2029 (A) $ 340,000 333,479

MGM Growth Properties OperatingPartnership LP4.500%, 09/01/2026 310,000 304,575

Michaels Stores, Inc.8.000%, 07/15/2027 (A) 360,000 289,800

Mohegan Gaming & Entertainment7.875%, 10/15/2024 (A) 1,060,000 763,200

NCL Corp., Ltd.3.625%, 12/15/2024 (A) 450,000 270,00012.250%, 05/15/2024 (A) 800,000 860,000

Newell Brands, Inc.4.875%, 06/01/2025 360,000 373,428

Party City Holdings, Inc.6.625%, 08/01/2026 (A) 670,000 103,013

PetSmart, Inc.8.875%, 06/01/2025 (A) 320,000 317,600

Royal Caribbean Cruises, Ltd.11.500%, 06/01/2025 (A) 420,000 445,347

Sands China, Ltd.5.400%, 08/08/2028 200,000 213,016

Scientific Games International, Inc.7.000%, 05/15/2028 (A) 860,000 756,800

Service Corp. International4.625%, 12/15/2027 680,000 715,5645.125%, 06/01/2029 500,000 538,750

Silversea Cruise Finance, Ltd.7.250%, 02/01/2025 (A) 632,000 593,878

Speedway Motorsports LLC4.875%, 11/01/2027 (A) 830,000 697,200

Sugarhouse HSP Gaming Prop Mezz LP5.875%, 05/15/2025 (A) 380,000 345,800

Taylor Morrison Communities, Inc.5.875%, 01/31/2025 (A) 200,000 202,5006.000%, 09/01/2023 (A) 600,000 600,372

The ServiceMaster Company LLC5.125%, 11/15/2024 (A) 500,000 506,250

The William Carter Company5.500%, 05/15/2025 (A) 420,000 432,6005.625%, 03/15/2027 (A) 390,000 398,381

TopBuild Corp.5.625%, 05/01/2026 (A) 560,000 571,200

Viking Cruises, Ltd.5.875%, 09/15/2027 (A) 570,000 342,21113.000%, 05/15/2025 (A) 1,000,000 1,080,000

VOC Escrow, Ltd.5.000%, 02/15/2028 (A) 990,000 812,166


24


CORPORATE BONDS (continued)Consumer discretionary (continued)WW International, Inc.

8.625%, 12/01/2025 (A) $ 900,000 $ 938,250Wynn Macau, Ltd.

5.125%, 12/15/2029 (A) 300,000 295,500Wynn Resorts Finance LLC

7.750%, 04/15/2025 (A) 890,000 924,48831,192,387

Consumer staples – 3.7%Altria Group, Inc.

5.950%, 02/14/2049 410,000 524,321Cott Holdings, Inc.

5.500%, 04/01/2025 (A) 680,000 685,807Kraft Heinz Foods Company

3.875%, 05/15/2027 (A) 30,000 31,3434.250%, 03/01/2031 (A) 170,000 180,8924.875%, 02/15/2025 (A) 1,520,000 1,557,0115.200%, 07/15/2045 510,000 522,9825.500%, 06/01/2050 (A) 520,000 541,187

Lamb Weston Holdings, Inc.4.875%, 11/01/2026 to 05/15/2028 (A) 850,000 881,092

Sally Holdings LLC5.625%, 12/01/2025 780,000 761,514

Simmons Foods, Inc.5.750%, 11/01/2024 (A) 940,000 878,900

Spectrum Brands, Inc.5.000%, 10/01/2029 (A) 250,000 244,0636.125%, 12/15/2024 520,000 533,000

7,342,112Energy – 9.1%Antero Midstream Partners LP

5.375%, 09/15/2024 250,000 208,750Apache Corp.

5.100%, 09/01/2040 120,000 96,050Berry Petroleum Company LLC

7.000%, 02/15/2026 (A) 390,000 293,623Blue Racer Midstream LLC

6.125%, 11/15/2022 (A) 920,000 897,8746.625%, 07/15/2026 (A) 1,190,000 1,056,577

Cenovus Energy, Inc.3.000%, 08/15/2022 520,000 494,0635.400%, 06/15/2047 60,000 47,2276.750%, 11/15/2039 140,000 125,571

Comstock Resources, Inc.7.500%, 05/15/2025 (A) 280,000 247,100

Continental Resources, Inc.3.800%, 06/01/2024 230,000 200,1004.375%, 01/15/2028 1,000,000 842,200

DCP Midstream Operating LP6.450%, 11/03/2036 (A) 310,000 254,2006.750%, 09/15/2037 (A) 700,000 574,000

Endeavor Energy Resources LP5.500%, 01/30/2026 (A) 270,000 262,6725.750%, 01/30/2028 (A) 50,000 48,813

EQM Midstream Partners LP5.500%, 07/15/2028 620,000 573,4886.500%, 07/15/2048 250,000 215,000

EQT Corp.6.125%, 02/01/2025 710,000 725,670

MEG Energy Corp.7.000%, 03/31/2024 (A) 259,000 249,2887.125%, 02/01/2027 (A) 1,300,000 1,183,806

Montage Resources Corp.8.875%, 07/15/2023 500,000 430,000

NGPL PipeCo LLC4.375%, 08/15/2022 (A) 460,000 468,560


CORPORATE BONDS (continued)Energy (continued)NGPL PipeCo LLC (continued)

4.875%, 08/15/2027 (A) $ 300,000 $ 326,294Oasis Petroleum, Inc.

6.875%, 03/15/2022 to 01/15/2023 1,411,000 248,323Occidental Petroleum Corp.

2.900%, 08/15/2024 860,000 683,700Occidental Petroleum Corp. (3 month

LIBOR + 1.450%) 1.842%,08/15/2022 (C) 110,000 96,250

Petrobras Global Finance BV5.750%, 02/01/2029 40,000 40,1426.850%, 06/05/2115 580,000 543,170

Precision Drilling Corp.7.125%, 01/15/2026 (A) 870,000 435,000

Range Resources Corp.5.000%, 03/15/2023 450,000 407,0669.250%, 02/01/2026 (A) 250,000 233,675

Shelf Drilling Holdings, Ltd.8.250%, 02/15/2025 (A) 1,000,000 442,500

Teine Energy, Ltd.6.875%, 09/30/2022 (A) 510,000 498,525

The Williams Companies, Inc.7.500%, 01/15/2031 650,000 792,958

Vesta Energy Corp.8.125%, 07/24/2023 (A) CAD 920,000 327,414

Viper Energy Partners LP5.375%, 11/01/2027 (A) $ 260,000 258,050

Western Midstream Operating LP3.100%, 02/01/2025 1,230,000 1,144,6633.950%, 06/01/2025 80,000 74,3764.000%, 07/01/2022 570,000 560,378

WPX Energy, Inc.5.250%, 10/15/2027 410,000 399,7508.250%, 08/01/2023 1,040,000 1,110,200

18,117,066Financials – 8.4%Allied Universal Holdco LLC

6.625%, 07/15/2026 (A) 1,320,000 1,386,000Ally Financial, Inc.

8.000%, 11/01/2031 480,000 605,693Barclays PLC (5.088% to 6-20-29, then

3 month LIBOR + 3.054%)06/20/2030 1,470,000 1,638,184

Barclays PLC (8.000% to 12-15-20, then5 Year Euro Swap Rate + 6.750%)12/15/2020 (D) EUR 540,000 600,926

Barclays PLC (8.000% to 6-15-24, then5 Year CMT + 5.672%)06/15/2024 (D) $ 600,000 614,916

BNP Paribas SA (7.375% to 8-19-25,then 5 Year U.S. Swap Rate +5.150%) 08/19/2025 (A)(D) 350,000 383,688

CIT Group, Inc.5.250%, 03/07/2025 170,000 170,425

Credit Agricole SA (8.125% to 12-23-25,then 5 Year U.S. Swap Rate +6.185%) 12/23/2025 (A)(D) 600,000 687,000

Credit Suisse Group AG (6.375% to8-21-26, then 5 Year CMT + 4.822%)08/21/2026 (A)(D) 840,000 850,332

DAE Funding LLC5.750%, 11/15/2023 (A) 1,030,000 908,975

Diversified Healthcare Trust9.750%, 06/15/2025 1,020,000 1,039,125


25


CORPORATE BONDS (continued)Financials (continued)Donnelley Financial Solutions, Inc.

8.250%, 10/15/2024 $ 680,000 $ 666,400Fidelity & Guaranty Life Holdings, Inc.

5.500%, 05/01/2025 (A) 470,000 502,900FirstCash, Inc.

5.375%, 06/01/2024 (A) 710,000 711,924HSBC Holdings PLC (6.375% to

3-30-25, then 5 Year ICE Swap Rate+ 4.368%) 03/30/2025 (D) 200,000 201,876

HSBC Holdings PLC (6.500% to3-23-28, then 5 Year ICE Swap Rate+ 3.606%) 03/23/2028 (D) 720,000 717,300

Intesa Sanpaolo SpA5.017%, 06/26/2024 (A) 200,000 200,576

INTL. FCStone, Inc.8.625%, 06/15/2025 (A) 300,000 303,750

Ladder Capital Finance Holdings LLLP4.250%, 02/01/2027 (A) 530,000 442,550

NatWest Markets NV7.750%, 05/15/2023 520,000 583,210

Navient Corp.5.000%, 03/15/2027 330,000 282,150

Quicken Loans LLC5.250%, 01/15/2028 (A) 890,000 898,179

The Royal Bank of Scotland Group PLC(8.625% to 8-15-21, then 5 YearU.S. Swap Rate + 7.598%)08/15/2021 (D) 670,000 695,701

UBS Group AG (7.000% to 1-31-24,then 5 Year U.S. Swap Rate +4.344%) 01/31/2024 (A)(D) 810,000 834,057

UniCredit SpA (7.296% to 4-2-29, then 5Year ICE Swap Rate + 4.914%)04/02/2034 (A) 690,000 752,897

16,678,734Health care – 7.7%Air Methods Corp.

8.000%, 05/15/2025 (A) 860,000 550,400AMN Healthcare, Inc.

4.625%, 10/01/2027 (A) 200,000 193,076Bausch Health Americas, Inc.

9.250%, 04/01/2026 (A) 471,000 522,984Bausch Health Companies, Inc.

6.250%, 02/15/2029 (A) 1,990,000 2,039,7509.000%, 12/15/2025 (A) 1,080,000 1,181,250

Centene Corp.3.375%, 02/15/2030 250,000 251,7504.625%, 12/15/2029 390,000 419,8355.375%, 06/01/2026 (A) 570,000 602,775

Community Health Systems, Inc.6.625%, 02/15/2025 (A) 940,000 907,1008.000%, 03/15/2026 (A) 400,000 390,750

DaVita, Inc.5.000%, 05/01/2025 310,000 318,138

HCA, Inc.5.625%, 09/01/2028 1,000,000 1,146,250

HLF Financing Sarl LLC7.250%, 08/15/2026 (A) 610,000 605,425

LifePoint Health, Inc.4.375%, 02/15/2027 (A) 530,000 511,450

Par Pharmaceutical, Inc.7.500%, 04/01/2027 (A) 710,000 723,270

Polaris Intermediate Corp. (8.500% Cashor 9.250% PIK) 8.500%,12/01/2022 (A) 620,000 542,891


CORPORATE BONDS (continued)Health care (continued)Radiology Partners, Inc.

9.250%, 02/01/2028 (A) $ 780,000 $ 753,675RegionalCare Hospital Partners

Holdings, Inc.9.750%, 12/01/2026 (A) 480,000 519,600

Tenet Healthcare Corp.6.750%, 06/15/2023 550,000 576,1257.500%, 04/01/2025 (A) 650,000 708,500

Teva Pharmaceutical FinanceCompany LLC6.150%, 02/01/2036 250,000 244,375

Teva Pharmaceutical FinanceNetherlands III BV2.800%, 07/21/2023 800,000 756,000

US Renal Care, Inc.10.625%, 07/15/2027 (A) 750,000 780,000

15,245,369Industrials – 9.4%Ahern Rentals, Inc.

7.375%, 05/15/2023 (A) 530,000 230,550Allison Transmission, Inc.

5.000%, 10/01/2024 (A) 640,000 644,800Builders FirstSource, Inc.

5.000%, 03/01/2030 (A) 230,000 215,625BWX Technologies, Inc.

5.375%, 07/15/2026 (A) 560,000 575,613Clark Equipment Company

5.875%, 06/01/2025 (A) 280,000 288,750Cleaver-Brooks, Inc.

7.875%, 03/01/2023 (A) 210,000 175,919Continental Airlines 2000-1 Class B Pass

Through Trust8.388%, 11/01/2020 143 139

Covanta Holding Corp.5.875%, 07/01/2025 500,000 493,855

Delta Air Lines, Inc.3.625%, 03/15/2022 560,000 509,739

FXI Holdings, Inc.7.875%, 11/01/2024 (A) 767,000 631,832

GFL Environmental, Inc.5.125%, 12/15/2026 (A) 160,000 166,4007.000%, 06/01/2026 (A) 288,000 303,1208.500%, 05/01/2027 (A) 818,000 896,733

Global Aircraft Leasing Company, Ltd.(6.500% Cash or 7.250% PIK)6.500%, 09/15/2024 (A) 2,570,000 1,398,286

Navios Maritime Acquisition Corp.8.125%, 11/15/2021 (A) 450,000 279,000

Park-Ohio Industries, Inc.6.625%, 04/15/2027 348,000 268,962

Prime Security Services Borrower LLC5.750%, 04/15/2026 (A) 1,630,000 1,678,9006.250%, 01/15/2028 (A) 1,060,000 1,004,350

Sensata Technologies, Inc.4.375%, 02/15/2030 (A) 420,000 408,450

Signature Aviation US Holdings, Inc.5.375%, 05/01/2026 (A) 790,000 749,860

Standard Industries, Inc.4.750%, 01/15/2028 (A) 320,000 322,096

The ADT Security Corp.4.125%, 06/15/2023 830,000 832,075

The Azek Company LLC9.500%, 05/15/2025 (A) 320,000 342,400

The Boeing Company5.150%, 05/01/2030 830,000 886,302


26


CORPORATE BONDS (continued)Industrials (continued)TransDigm, Inc.

6.250%, 03/15/2026 (A) $ 630,000 $ 644,1758.000%, 12/15/2025 (A) 370,000 399,600

United Rentals North America, Inc.3.875%, 11/15/2027 180,000 180,4505.250%, 01/15/2030 1,100,000 1,146,7505.500%, 05/15/2027 490,000 519,968

Waste Pro USA, Inc.5.500%, 02/15/2026 (A) 580,000 573,342

WESCO Distribution, Inc.7.125%, 06/15/2025 (A) 180,000 180,0007.250%, 06/15/2028 (A) 340,000 337,430

XPO CNW, Inc.6.700%, 05/01/2034 740,000 725,200

XPO Logistics, Inc.6.250%, 05/01/2025 (A) 540,000 563,544

18,574,215Information technology – 4.3%Alliance Data Systems Corp.

4.750%, 12/15/2024 (A) 600,000 536,820Amkor Technology, Inc.

6.625%, 09/15/2027 (A) 780,000 824,850CDK Global, Inc.

5.250%, 05/15/2029 (A) 20,000 20,4005.875%, 06/15/2026 520,000 547,300

CDW LLC4.250%, 04/01/2028 640,000 651,021

CommScope Technologies LLC5.000%, 03/15/2027 (A) 250,000 228,7506.000%, 06/15/2025 (A) 280,000 272,222

CommScope, Inc.8.250%, 03/01/2027 (A) 1,370,000 1,428,225

Entegris, Inc.4.375%, 04/15/2028 (A) 700,000 715,414

Fair Isaac Corp.4.000%, 06/15/2028 (A) 440,000 441,650

j2 Cloud Services LLC6.000%, 07/15/2025 (A) 760,000 791,350

Level 3 Financing, Inc.5.250%, 03/15/2026 580,000 600,300

Microchip Technology, Inc.4.250%, 09/01/2025 (A) 440,000 442,996

Open Text Holdings, Inc.4.125%, 02/15/2030 (A) 400,000 395,000

Western Digital Corp.4.750%, 02/15/2026 560,000 589,400

8,485,698Materials – 6.6%Alcoa Nederland Holding BV

7.000%, 09/30/2026 (A) 280,000 287,062ARD Finance SA (6.500% Cash or

7.250% PIK) 6.500%, 06/30/2027 (A) 540,000 533,450Ardagh Packaging Finance PLC

5.250%, 08/15/2027 (A) 520,000 512,2006.000%, 02/15/2025 (A) 800,000 824,760

BHP Billiton Finance USA, Ltd.(6.750% to 10-20-25, then 5 YearU.S. Swap Rate + 5.093%)10/19/2075 (A) 460,000 527,560

Cascades, Inc.5.125%, 01/15/2026 (A) 10,000 10,2505.375%, 01/15/2028 (A) 610,000 619,150

First Quantum Minerals, Ltd.6.875%, 03/01/2026 (A) 620,000 548,7007.250%, 04/01/2023 (A) 644,000 595,507


CORPORATE BONDS (continued)Materials (continued)First Quantum Minerals, Ltd. (continued)

7.500%, 04/01/2025 (A) $ 446,000 $ 404,745Flex Acquisition Company, Inc.

7.875%, 07/15/2026 (A) 810,000 810,000Freeport-McMoRan, Inc.

3.550%, 03/01/2022 337,000 340,3705.450%, 03/15/2043 1,790,000 1,769,039

Greif, Inc.6.500%, 03/01/2027 (A) 1,179,000 1,190,790

Hudbay Minerals, Inc.7.625%, 01/15/2025 (A) 510,000 463,636

Mercer International, Inc.5.500%, 01/15/2026 590,000 533,9507.375%, 01/15/2025 220,000 214,546

Midwest Vanadium Pty, Ltd.11.500%, 02/15/2018 (A)(B) 1,953,148 2,441

Northwest Acquisitions ULC7.125%, 11/01/2022 (A) 1,140,000 11,400

Olin Corp.5.000%, 02/01/2030 560,000 481,600

Pactiv LLC7.950%, 12/15/2025 1,200,000 1,278,000

Teck Resources, Ltd.5.200%, 03/01/2042 970,000 880,490

U.S. Concrete, Inc.6.375%, 06/01/2024 260,000 260,650

13,100,296Real estate – 4.0%CoreCivic, Inc.

4.625%, 05/01/2023 280,000 271,6005.000%, 10/15/2022 370,000 362,600

CTR Partnership LP5.250%, 06/01/2025 410,000 420,250

Five Point Operating Company LP7.875%, 11/15/2025 (A) 1,240,000 1,215,200

Forestar Group, Inc.5.000%, 03/01/2028 (A) 700,000 665,0008.000%, 04/15/2024 (A) 780,000 819,000

MPT Operating Partnership LP4.625%, 08/01/2029 380,000 376,2005.000%, 10/15/2027 720,000 744,300

The GEO Group, Inc.5.875%, 10/15/2024 850,000 703,3756.000%, 04/15/2026 1,500,000 1,170,000

VICI Properties LP4.625%, 12/01/2029 (A) 1,080,000 1,077,473

7,824,998Utilities – 0.4%Talen Energy Supply LLC

6.625%, 01/15/2028 (A) 510,000 499,99410.500%, 01/15/2026 (A) 400,000 316,000

815,994TOTAL CORPORATE BONDS(Cost $176,016,879) $ 167,746,851

CONVERTIBLE BONDS – 1.0%Communication services – 0.6%DISH Network Corp.

2.375%, 03/15/2024 830,000 714,3193.375%, 08/15/2026 220,000 193,853

Live Nation Entertainment, Inc.2.000%, 02/15/2025 (A) 300,000 250,428


27


CONVERTIBLE BONDS (continued)Communication services (continued)Vonage Holdings Corp.

1.750%, 06/01/2024 (A) $ 120,000 $ 112,6781,271,278

Energy – 0.1%Cheniere Energy, Inc.

4.250%, 03/15/2045 360,000 217,540Industrials – 0.1%Air Canada

4.000%, 07/01/2025 (A) 130,000 133,413Information technology – 0.2%Vishay Intertechnology, Inc.

2.250%, 06/15/2025 460,000 421,402TOTAL CONVERTIBLE BONDS(Cost $2,305,202) $ 2,043,633

TERM LOANS (E) – 5.9%Communication services – 0.4%Allen Media LLC, 2020 Term Loan B (3

month LIBOR + 5.500%) 5.823%,02/10/2027 300,000 282,750

iHeartCommunications, Inc., 2020 TermLoan (1 month LIBOR + 3.000%)3.174%, 05/01/2026 444,739 414,719

697,469Consumer discretionary – 1.4%CEOC LLC, Exit Term Loan (1 month

LIBOR + 2.000%) 2.174%,10/07/2024 864,340 838,842

Clarios Global LP, USD Term Loan B (1month LIBOR + 3.500%) 3.674%,04/30/2026 577,100 548,245

Michaels Stores, Inc., 2018 Term Loan B(1 and 3 month LIBOR + 2.500%)3.534%, 01/30/2023 269,230 233,557

Mohegan Gaming & Entertainment, 2016Term Loan B (3 month LIBOR +4.375%) 5.375%, 10/13/2023 698,148 517,795

Spencer Spirit IH LLC, Term Loan B (1month LIBOR + 6.000%) 6.168%,06/19/2026 790,578 698,341

2,836,780Energy – 0.2%Chesapeake Energy Corp., 2019 Last Out

Term Loan (2 month LIBOR +8.000%) 9.000%, 06/24/2024 630,000 332,848

Permian Production Partners LLC, TermLoan0.000%, 05/20/2024 (B) 807,500 40,375

373,223Financials – 0.8%Acrisure LLC, 2020 Term Loan B (3

month LIBOR + 3.500%) 3.765%,02/15/2027 540,000 504,565

Amerilife Holdings LLC, 2020 TermLoan (1 month LIBOR + 4.000%)4.370%, 03/18/2027 159,545 146,782

Duff + Phelps Corp., 2020 2nd LienTerm Loan (1 month LIBOR +8.000%) 9.000%, 04/07/2028 620,000 570,400

Jane Street Group LLC, 2020 Term Loan(1 month LIBOR + 3.000%) 3.174%,01/31/2025 416,839 406,418

1,628,165


TERM LOANS (E) (continued)Health care – 1.5%Eyecare Partners LLC, 2020 2nd Lien

Term Loan (3 month LIBOR +8.250%) 9.139%, 02/18/2028 $ 430,000 $ 365,500

Eyecare Partners LLC, 2020 Term Loan(3 month LIBOR + 3.750%) 4.822%,02/05/2027 470,270 427,946

McAfee LLC, 2018 USD Term Loan B(1 month LIBOR + 3.750%) 3.924%,09/30/2024 823,728 809,313

Option Care Health, Inc., Term Loan B(1 month LIBOR + 4.500%) 4.674%,08/06/2026 768,075 738,635

US Renal Care, Inc., 2019 Term Loan B(1 month LIBOR + 5.000%) 5.188%,06/26/2026 623,100 592,612

2,934,006Industrials – 1.0%Cornerstone Building Brands, Inc., 2018


Delta Air Lines, Inc., 2020 Term Loan B(3 month LIBOR + 4.750%) 5.750%,04/29/2023 750,000 739,373

Temple Generation I LLC, 2nd LienTerm Loan (1 month LIBOR +8.000%) 9.000%, 02/07/2023 667,215 660,543

2,029,731Information technology – 0.3%Global Tel*Link Corp., 2018 1st Lien


Real estate – 0.3%CoreCivic, Inc., 2019 Term Loan (1

month LIBOR + 4.500%) 5.500%,12/18/2024 513,500 477,555


ASSET BACKED SECURITIES – 4.0%Benefit Street Partners CLO, Ltd.

Series 2017-12A, Class C (3 monthLIBOR + 3.050%)4.269%, 10/15/2030 (A)(C) 250,000 216,264

BlueMountain CLO, Ltd.Series 2012-2A, Class ER2 (3 month

LIBOR + 5.750%)6.127%, 11/20/2028 (A)(C) 500,000 356,218

Series 2016-2A, Class DR (3 monthLIBOR + 7.790%)8.167%, 08/20/2032 (A)(C) 375,000 291,672

Bowman Park CLO, Ltd.Series 2014-1A, Class D1R (3 monthLIBOR + 3.350%)3.710%, 11/23/2025 (A)(C) 500,000 487,845

Cook Park CLO, Ltd.Series 2018-1A, Class E (3 monthLIBOR + 5.400%)6.535%, 04/17/2030 (A)(C) 250,000 191,356

Cumberland Park CLO, Ltd.Series 2015-2A, Class ER (3 monthLIBOR + 5.650%)6.785%, 07/20/2028 (A)(C) 250,000 192,863

Greenwood Park CLO, Ltd.Series 2018-1A, Class D (3 month

LIBOR + 2.500%)3.719%, 04/15/2031 (A)(C) 530,000 471,401


28


ASSET BACKED SECURITIES (continued)Greenwood Park CLO, Ltd. (continued)

Series 2018-1A, Class E (3 monthLIBOR + 4.950%)6.169%, 04/15/2031 (A)(C) $ 750,000 $ 580,018

Greywolf CLO, Ltd.Series 2019-1A, Class C (3 monthLIBOR + 3.950%)5.085%, 04/17/2030 (A)(C) 430,000 404,180

Halseypoint CLO, Ltd.Series 2019-1A, Class E (3 monthLIBOR + 7.700%)9.607%, 01/20/2033 (A)(C) 600,000 521,249

Jackson Mill CLO, Ltd.Series 2015-1A, Class DR (3 monthLIBOR + 2.800%)4.019%, 04/15/2027 (A)(C) 250,000 218,117

LCM, Ltd.Series 2022-A, Class DR (3 monthLIBOR + 5.500%)6.635%, 10/20/2028 (A)(C) 500,000 343,376

Madison Park Funding, Ltd.Series 2014-13A, Class DR2 (3 monthLIBOR + 2.850%)3.985%, 04/19/2030 (A)(C) 1,000,000 907,050

Oaktree CLO, Ltd.Series 2019-1A, Class D (3 monthLIBOR + 3.800%)4.898%, 04/22/2030 (A)(C) 250,000 210,796

OZLM, Ltd.Series 2015-11A, Class CR (3 monthLIBOR + 3.600%)4.360%, 10/30/2030 (A)(C) 1,000,000 909,100

Shackleton CLO, Ltd.Series 2013-3A, Class DR (3 monthLIBOR + 3.020%)4.239%, 07/15/2030 (A)(C) 500,000 417,509

TCI-Symphony CLO, Ltd.Series 2016-1A, Class DR (3 monthLIBOR + 3.000%)4.311%, 10/13/2029 (A)(C) 540,000 485,607

Thayer Park CLO, Ltd.Series 2017-1A, Class C (3 monthLIBOR + 3.700%)4.835%, 04/20/2029 (A)(C) 250,000 240,658

Voya CLO, Ltd.Series 2017-1A, Class C (3 monthLIBOR + 3.330%)4.465%, 04/17/2030 (A)(C) 500,000 458,129

TOTAL ASSET BACKED SECURITIES(Cost $9,014,500) $ 7,903,408

COMMON STOCKS – 0.8%Communication services – 0.0%New Cotai, Inc., Class B (F)(G)(H) 11 0Energy – 0.8%Berry Corp. 211,334 896,046Hercules Offshore, Inc. (G)(H) 120,022 106,183KCAD Holdings I, Ltd. (F)(G)(H) 752,218,031 752Montage Resources Corp. (H)(I) 66,492 406,931MWO Holdings LLC (F)(G)(H) 1,134 65,851

1,475,763TOTAL COMMON STOCKS (Cost $22,029,823) $ 1,475,763

PREFERRED SECURITIES – 0.8%Financials – 0.7%B. Riley Financial, Inc., 6.875% 16,425 397,157


PREFERRED SECURITIES (continued)Financials (continued)GMAC Capital Trust I (3 month LIBOR

+ 5.785%), 6.177% (C) 43,100 $ 973,6291,370,786

Industrials – 0.1%Stanley Black & Decker, Inc. (5.000% to

5-15-23, then 10.000% thereafter) 250 261,250TOTAL PREFERRED SECURITIES (Cost $1,784,125) $ 1,632,036


0.3653% (J)(K) 39,454 395,001State Street Institutional Treasury Plus

Money Market Fund, Premier Class,0.1486% (J) 214,665 214,665

TOTAL SHORT-TERM INVESTMENTS (Cost $609,630) $ 609,666Total Investments (High Yield Fund)

(Cost $228,736,606) – 98.2% $ 194,756,738Other assets and liabilities, net – 1.8% 3,514,691TOTAL NET ASSETS – 100.0% $ 198,271,429

Currency AbbreviationsBRL Brazilian RealCAD Canadian DollarEUR EuroGBP Pound SterlingIDR Indonesian Rupiah

Security Abbreviations and LegendCMT Constant Maturity TreasuryICE Intercontinental ExchangeLIBOR London Interbank Offered RatePIK Pay-in-Kind Security - Represents a payment-in-kind which may pay

interest in additional par and/or cash. Rates shown are the currentrate and most recent payment rate.

(A) These securities are exempt from registration under Rule 144A ofthe Securities Act of 1933. Such securities may be resold, normallyto qualified institutional buyers, in transactions exempt fromregistration. Rule 144A securities amounted to $113,854,686 or57.4% of the fund’s net assets as of 5-31-20.

(B) Non-income producing - Issuer is in default.(C) Variable rate obligation. The coupon rate shown represents the rate

at period end.(D) Perpetual bonds have no stated maturity date. Date shown as

maturity date is next call date.(E) Term loans are variable rate obligations. The coupon rate shown

represents the rate at period end.(F) Restricted security as to resale, excluding 144A securities. For more


(G) Security is valued using significant unobservable inputs and isclassified as Level 3 in the fair value hierarchy.

(H) Non-income producing security.(I) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $385,746.(J) The rate shown is the annualized seven-day yield as of 5-31-20.(K) Investment is an affiliate of the fund, the advisor and/or subadvisor.



29

High Yield Fund (continued)DERIVATIVES

FUTURES



dateNotional

basis^Notional

value^


(depreciation)5-Year U.S. Treasury Note Futures 177 Long Sep 2020 $22,224,210 $22,235,625 $11,41510-Year U.S. Treasury Note Futures 61 Short Sep 2020 (8,462,812) (8,482,813) (20,001)U.S. Treasury Long Bond Futures 16 Short Sep 2020 (2,852,323) (2,854,000) (1,677)

$(10,263)


FORWARD FOREIGN CURRENCY CONTRACTS

Contract to buy Contract to sell Counterparty (OTC)

Contractualsettlement

dateUnrealized

appreciationUnrealized

depreciation

GBP 587,667 USD 729,187 JPM 7/16/2020 — $(3,283)MXN 3,526,523 USD 140,948 JPM 7/16/2020 $17,041 —USD 2,831,972 CAD 3,950,827 BNP 7/16/2020 — (37,559)USD 773,145 EUR 708,000 BNP 7/16/2020 — (13,484)USD 177,466 EUR 161,743 JPM 7/16/2020 — (2,240)

$17,041 $(56,566)

SWAPS

Credit default swaps - Seller

Counterparty(OTC)/Centrallycleared

Referenceobligation

Impliedcreditspread

Notionalamount Currency

USDnotionalamount

Receivedfixedrate

Fixedpayment

frequencyMaturity

date

Unamortizedupfront

paymentpaid

(received)


(depreciation) Value

Centrally cleared Ford Motor Credit Company LLC 4.220% 643,000 USD $643,000 5.000% Quarterly Jun 2023 $(41,554) $61,595 $20,041$643,000 $(41,554) $61,595 $20,041

Derivatives Currency AbbreviationsCAD Canadian DollarEUR EuroGBP Pound SterlingMXN Mexican PesoUSD U.S. Dollar

Derivatives AbbreviationsBNP BNP ParibasJPM JPMorgan Chase Bank, N.A.OTC Over-the-counter

International Strategic Equity Allocation FundShares orPrincipalAmount Value

COMMON STOCKS - 91.1%Australia - 4.2%AGL Energy, Ltd. 51,663 $ 578,811Alumina, Ltd. 194,336 192,393AMP, Ltd. (A) 272,273 296,905Ampol, Ltd. 20,003 361,884APA Group 94,514 732,464Aristocrat Leisure, Ltd. 46,055 794,413ASX, Ltd. 15,641 921,852Aurizon Holdings, Ltd. 157,983 501,176AusNet Services 144,763 169,739Australia & New Zealand Banking

Group, Ltd. 226,570 2,696,533Bendigo & Adelaide Bank, Ltd. 42,222 173,418BHP Group PLC 115,642 2,274,188BHP Group, Ltd. 236,425 5,564,473

International Strategic Equity Allocation Fund(continued)

Shares orPrincipalAmount Value

COMMON STOCKS (continued)Australia (continued)BlueScope Steel, Ltd. 40,646 $ 299,464Boral, Ltd. 93,373 194,341Brambles, Ltd. 124,753 971,078Challenger, Ltd. 46,349 155,303CIMIC Group, Ltd. 7,461 124,405Coca-Cola Amatil, Ltd. 40,116 234,597Cochlear, Ltd. 5,129 661,487Coles Group, Ltd. 106,811 1,093,428Commonwealth Bank of Australia 142,213 6,038,953Computershare, Ltd. 39,046 341,943Crown Resorts, Ltd. 30,488 195,350CSL, Ltd. 36,393 6,739,771Dexus 87,618 527,077


30



COMMON STOCKS (continued)Australia (continued)Flight Centre Travel Group, Ltd. 11,122 $ 97,502Fortescue Metals Group, Ltd. 111,600 1,033,130Goodman Group 132,175 1,357,875Harvey Norman Holdings, Ltd. 45,362 98,436Incitec Pivot, Ltd. 132,580 177,770Insurance Australia Group, Ltd. 189,365 773,265Lendlease Group 45,273 391,372Macquarie Group, Ltd. 27,195 2,000,206Magellan Financial Group, Ltd. 10,574 413,497Medibank Pvt., Ltd. 228,488 433,905Mirvac Group 314,463 493,356National Australia Bank, Ltd. 231,586 2,730,742Newcrest Mining, Ltd. 61,520 1,246,578Oil Search, Ltd. 154,195 358,507Orica, Ltd. 32,731 375,898Origin Energy, Ltd. 140,689 553,039Qantas Airways, Ltd. 60,495 161,487QBE Insurance Group, Ltd. 122,665 722,745Ramsay Health Care, Ltd. 16,632 777,821REA Group, Ltd. 4,117 276,861Santos, Ltd. 141,919 508,417Scentre Group 420,134 626,278SEEK, Ltd. 26,355 354,038Sonic Healthcare, Ltd. 36,259 681,617South32, Ltd. 394,030 498,199Stockland 189,692 452,900Suncorp Group, Ltd. 104,289 643,136Sydney Airport 88,967 348,086Tabcorp Holdings, Ltd. 160,587 345,577Telstra Corp., Ltd. 334,371 716,136The GPT Group 155,036 412,895TPG Telecom, Ltd. 29,365 165,080Transurban Group 219,466 2,096,198Treasury Wine Estates, Ltd. 57,970 372,718Vicinity Centres 254,879 274,185Washington H Soul Pattinson &

Company, Ltd. 9,601 121,757Wesfarmers, Ltd. 90,726 2,443,649Westpac Banking Corp. 285,285 3,253,941WiseTech Global, Ltd. 11,442 156,002Woodside Petroleum, Ltd. 74,762 1,127,973Woolworths Group, Ltd. 101,012 2,379,490Worley, Ltd. 26,580 149,308

65,437,018Austria - 0.2%ANDRITZ AG (B) 9,193 344,423Erste Group Bank AG 38,724 856,533OMV AG 18,754 619,704Raiffeisen Bank International AG 18,682 342,303Verbund AG 8,618 384,236voestalpine AG 14,723 287,534

2,834,733Belgium - 0.2%Ageas SA/NV 7,481 255,358Anheuser-Busch InBev SA/NV (B) 26,828 1,251,932Colruyt SA 1,863 112,448Galapagos NV (A) 1,601 324,793Groupe Bruxelles Lambert SA 2,845 230,906KBC Group NV 8,578 450,064Proximus SADP 5,242 108,762Solvay SA (B) 2,554 195,024Telenet Group Holding NV 1,471 60,183UCB SA 4,485 448,882



COMMON STOCKS (continued)Belgium (continued)Umicore SA (B) 6,768 $ 300,736

3,739,088Brazil - 0.8%Ambev SA 294,500 688,747Atacadao SA 23,700 82,119B2W Cia Digital (A) 12,800 219,766B3 SA - Brasil Bolsa Balcao 129,020 1,101,299Banco Bradesco SA 82,536 275,310Banco BTG Pactual SA 15,900 145,523Banco do Brasil SA 53,700 310,348Banco Santander Brasil SA 25,500 121,854BB Seguridade Participacoes SA 45,600 216,024BR Malls Participacoes SA 49,635 91,247BRF SA (A) 35,600 154,307CCR SA 75,300 207,430Centrais Eletricas Brasileiras SA 16,200 86,915Cia Brasileira de Distribuicao 9,800 115,661Cia de Saneamento Basico do Estado de

Sao Paulo 21,200 215,802Cia Siderurgica Nacional SA 37,500 72,522Cielo SA 74,960 57,453Cogna Educacao 111,000 109,413Cosan SA (A) 10,000 123,400Embraer SA (A) 44,500 59,625Energisa SA 10,000 89,013Engie Brasil Energia SA 11,925 94,773Equatorial Energia SA (A) 52,600 197,633Hapvida Participacoes e Investimentos

SA (C) 13,900 142,899Hypera SA 23,700 143,098IRB Brasil Resseguros SA 46,900 72,948JBS SA 68,200 280,785Klabin SA 43,000 158,824Localiza Rent a Car SA 37,745 272,179Lojas Renner SA 48,839 352,818Magazine Luiza SA 45,400 547,475Multiplan Empreendimentos

Imobiliarios SA 17,200 66,688Natura & Company Holding SA 40,300 280,785Notre Dame Intermedica

Participacoes SA 30,300 353,745Petrobras Distribuidora SA 43,200 175,187Petroleo Brasileiro SA 229,900 897,835Porto Seguro SA 6,200 54,956Raia Drogasil SA 14,300 293,273Rumo SA (A) 67,400 284,565Sul America SA 19,096 160,496Suzano SA (A) 33,627 238,577TIM Participacoes SA 53,100 135,529Ultrapar Participacoes SA 44,600 143,086Vale SA 197,370 1,960,274WEG SA 52,320 410,124

12,262,330Canada - 8.0%Agnico Eagle Mines, Ltd. 25,115 1,606,842Air Canada (A) 14,288 164,999Algonquin Power & Utilities Corp. (B) 56,617 792,807Alimentation Couche-Tard, Inc.,

Class B (B) 91,634 2,868,450AltaGas, Ltd. 30,364 325,947Atco, Ltd., Class I 8,912 251,207Aurora Cannabis, Inc. (A)(B) 9,766 136,682Bank of Montreal 67,804 3,344,771


31



COMMON STOCKS (continued)Canada (continued)BCE, Inc. 17,371 $ 722,041BlackBerry, Ltd. (A)(B) 56,251 261,471Bombardier, Inc., Class B (A)(B) 229,701 74,240Brookfield Asset Management, Inc.,

Class A 141,914 4,455,781CAE, Inc. 28,565 428,625Cameco Corp. 42,042 456,802Canadian Apartment Properties REIT 9,167 312,524Canadian Imperial Bank of Commerce 47,538 3,048,357Canadian National Railway Company 75,491 6,502,693Canadian Natural Resources, Ltd. 124,640 2,276,716Canadian Pacific Railway, Ltd. 14,514 3,637,856Canadian Tire Corp., Ltd., Class A (B) 6,522 557,154Canadian Utilities, Ltd., Class A 14,696 352,657Canopy Growth Corp. (A)(B) 22,135 389,213CCL Industries, Inc., Class B 16,203 545,925Cenovus Energy, Inc. 110,819 482,924CGI, Inc. (A) 25,485 1,628,478CI Financial Corp. 25,366 300,667Constellation Software, Inc. 2,124 2,414,450Cronos Group, Inc. (A)(B) 20,378 133,648Dollarama, Inc. 31,515 1,068,468Emera, Inc. (B) 25,822 1,026,616Empire Company, Ltd., Class A 18,766 424,700Enbridge, Inc. 212,681 6,917,133Fairfax Financial Holdings, Ltd. 2,930 813,914First Capital Real Estate Investment

Trust (B) 12,752 121,236First Quantum Minerals, Ltd. 73,099 428,448Fortis, Inc. 47,166 1,815,935Franco-Nevada Corp. 19,812 2,780,889George Weston, Ltd. 8,282 598,270Gildan Activewear, Inc. (B) 22,098 306,549Great-West Lifeco, Inc. 35,058 570,869H&R Real Estate Investment Trust 16,211 114,208Husky Energy, Inc. 37,579 105,899Hydro One, Ltd. (C) 36,000 697,592iA Financial Corp., Inc. 13,413 428,347IGM Financial, Inc. 10,607 251,915Imperial Oil, Ltd. 28,401 443,698Intact Financial Corp. 15,007 1,432,633Inter Pipeline, Ltd. (B) 44,690 409,297Keyera Corp. (B) 23,252 368,492Kinross Gold Corp. (A) 131,934 857,617Kirkland Lake Gold, Ltd. 28,556 1,100,262Linamar Corp. 319 8,860Loblaw Companies, Ltd. 19,704 975,433Lundin Mining Corp. (B) 72,696 334,744Magna International, Inc. 31,373 1,322,959Methanex Corp. 7,912 128,203Metro, Inc. 27,276 1,137,515National Bank of Canada (B) 35,757 1,557,170Nutrien, Ltd. 60,829 2,076,452Onex Corp. 9,469 444,342Open Text Corp. 29,209 1,213,462Parkland Corp. 15,938 448,211Pembina Pipeline Corp. 57,869 1,445,832Power Corp. of Canada 63,392 1,031,786PrairieSky Royalty, Ltd. 23,786 156,863Quebecor, Inc., Class B 19,343 425,255Restaurant Brands International, Inc. 30,069 1,642,728RioCan Real Estate Investment Trust (B) 19,470 205,893Rogers Communications, Inc., Class B 38,380 1,608,400Royal Bank of Canada 151,768 9,846,705



COMMON STOCKS (continued)Canada (continued)Saputo, Inc. (B) 26,421 $ 649,179Shaw Communications, Inc., Class B 50,908 858,912Shopify, Inc., Class A (A) 10,865 8,246,068SmartCentres Real Estate

Investment Trust 9,236 134,832Sun Life Financial, Inc. 66,188 2,270,443Suncor Energy, Inc. 161,628 2,778,614TC Energy Corp. 98,499 4,439,019Teck Resources, Ltd., Class B 52,126 495,194TELUS Corp. (B) 44,028 762,979The Bank of Nova Scotia 128,769 5,159,738The Toronto-Dominion Bank 190,572 8,163,516Thomson Reuters Corp. 21,605 1,447,081West Fraser Timber Company, Ltd. 5,876 159,015Wheaton Precious Metals Corp. (B) 47,000 2,024,941WSP Global, Inc. 11,485 741,226

125,898,484Chile - 0.2%Aguas Andinas SA, Class A 236,050 69,335Antofagasta PLC 21,801 238,042Banco de Chile 4,202,759 357,109Banco de Credito e Inversiones SA 4,652 157,508Banco Santander Chile 5,841,998 237,942Cencosud SA 135,436 158,212Cia Cervecerias Unidas SA 13,876 100,343Colbun SA 733,269 119,940Empresa Nacional de

Telecomunicaciones SA 14,564 92,799Empresas CMPC SA 104,907 213,641Empresas COPEC SA 36,371 229,477Enel Americas SA 3,553,060 517,156Enel Chile SA 2,564,851 192,236Falabella SA 70,514 164,304Itau CorpBanca Chile SA 12,517,754 29,089Latam Airlines Group SA (A) 23,703 25,468

2,902,601China - 8.2%3SBio, Inc. (A)(C) 100,100 119,84251job, Inc., ADR (A) 2,100 135,42958.com, Inc., ADR (A) 7,400 355,274AAC Technologies Holdings, Inc. (B) 57,600 298,617Agile Group Holdings, Ltd. 107,900 111,985Agricultural Bank of China, Ltd.,

H Shares 2,312,200 938,364Air China, Ltd., H Shares 133,300 80,733Alibaba Group Holding, Ltd., ADR (A) 137,800 28,578,342A-Living Services Company, Ltd., H

Shares (C) 34,250 185,206Aluminum Corp. of China, Ltd., H

Shares (A) 306,600 56,845Anhui Conch Cement Company, Ltd.,

H Shares 97,100 732,182ANTA Sports Products, Ltd. 85,500 766,253Autohome, Inc., ADR (B) 4,600 353,878AviChina Industry & Technology

Company, Ltd., H Shares 192,000 87,824BAIC Motor Corp., Ltd., H Shares (C) 135,500 54,928Baidu, Inc., ADR (A) 21,800 2,322,790Bank of China, Ltd., H Shares 6,291,600 2,312,679Bank of Communications

Company, Ltd., H Shares 674,900 411,209Baozun, Inc., ADR (A)(B) 3,400 90,066BBMG Corp., H Shares 174,000 36,445


32



COMMON STOCKS (continued)China (continued)BeiGene, Ltd., ADR (A)(B) 2,900 $ 480,066Beijing Capital International Airport

Company, Ltd., H Shares 134,900 84,515BEST, Inc., ADR (A) 15,600 80,808BYD Company, Ltd., H Shares 50,000 286,948BYD Electronic International

Company, Ltd. 53,900 104,293CGN Power Company, Ltd., H

Shares (C) 827,900 190,723China Aoyuan Group, Ltd. 96,000 102,938China Cinda Asset Management

Company, Ltd., H Shares 748,200 139,372China CITIC Bank Corp., Ltd., H Shares 695,000 303,718China Coal Energy Company, Ltd.,

H Shares 166,000 39,984China Communications

Construction Company, Ltd., H Shares 349,500 223,541China Communications Services Corp.,

Ltd., H Shares 187,200 124,840China Conch Venture Holdings, Ltd. 128,300 579,066China Construction Bank Corp.,

H Shares 7,622,500 6,011,815China East Education Holdings, Ltd. (C) 43,000 84,970China Eastern Airlines Corp., Ltd., H

Shares (B) 134,000 45,708China Everbright Bank Company, Ltd.,

H Shares 253,000 103,025China Evergrande Group (B) 146,900 309,626China Galaxy Securities Company, Ltd.,

H Shares 297,500 144,199China Hongqiao Group, Ltd. 138,000 61,228China Huarong Asset Management

Company, Ltd., H Shares (C) 834,600 85,851China Huishan Dairy Holdings

Company, Ltd. (A)(D) 175,000 0China International Capital Corp., Ltd.,

H Shares (A)(B)(C) 108,000 176,222China Lesso Group Holdings, Ltd. 85,000 103,339China Life Insurance Company, Ltd.,

H Shares 609,200 1,154,387China Literature, Ltd. (A)(C) 20,000 114,299China Longyuan Power Group Corp.,

Ltd., H Shares 249,700 121,947China Medical System Holdings, Ltd. 108,300 124,194China Merchants Bank Company, Ltd.,

H Shares 307,200 1,447,545China Minsheng Banking Corp., Ltd.,

H Shares 542,520 378,792China Molybdenum Company, Ltd.,

H Shares 288,100 89,335China National Building Material

Company, Ltd., H Shares 307,700 349,083China Oilfield Services, Ltd., H Shares 129,700 113,554China Pacific Insurance Group

Company, Ltd., H Shares 219,600 610,380China Petroleum & Chemical Corp.,

H Shares 2,017,300 941,213China Railway Construction Corp., Ltd.,

H Shares 155,000 139,172China Railway Group, Ltd., H Shares 298,600 163,936China Railway Signal & Communication

Corp., Ltd., H Shares (C) 115,000 50,998China Reinsurance Group Corp.,

H Shares 507,000 53,331



COMMON STOCKS (continued)China (continued)China Resources Pharmaceutical

Group, Ltd. (C) 126,100 $ 68,944China Shenhua Energy Company, Ltd.,

H Shares 268,000 490,896China Southern Airlines Company, Ltd.,

H Shares (B) 118,800 49,482China Telecom Corp., Ltd., H Shares 1,111,100 368,588China Tower Corp., Ltd., H Shares (C) 3,328,000 675,915China Vanke Company, Ltd., H Shares 116,900 381,619China Zhongwang Holdings, Ltd. 122,400 23,199Chongqing Rural Commercial Bank

Company, Ltd., H Shares 201,700 77,719CIFI Holdings Group Company, Ltd. 216,000 156,915CITIC Securities Company, Ltd.,

H Shares 164,700 299,122CNOOC, Ltd. 1,416,500 1,618,297COSCO SHIPPING Energy

Transportation Company, Ltd.,H Shares 94,000 46,853

COSCO SHIPPING HoldingsCompany, Ltd., H Shares (A)(B) 189,000 48,111

Country Garden Holdings Company, Ltd. 608,300 761,435Country Garden Services Holdings

Company, Ltd. (A) 96,000 454,849CRRC Corp., Ltd., H Shares 352,500 165,650CSPC Pharmaceutical Group, Ltd. 370,300 729,970Dali Foods Group Company, Ltd. (C) 160,500 102,089Datang International Power Generation

Company, Ltd., H Shares 222,000 29,934Dongfeng Motor Group Company, Ltd.,

H Shares 217,300 137,471ENN Energy Holdings, Ltd. 62,400 732,577Fosun International, Ltd. 206,500 267,290Fuyao Glass Industry Group

Company, Ltd., H Shares (B)(C) 36,500 80,605GDS Holdings, Ltd., ADR (A)(B) 4,800 273,600Genscript Biotech Corp. (A)(B) 74,000 163,344GF Securities Company, Ltd., H Shares 114,200 117,464GOME Retail Holdings, Ltd. (A) 723,200 90,149Great Wall Motor Company, Ltd.,

H Shares 244,400 155,651Greentown Service Group Company, Ltd. 84,000 113,196Guangzhou Automobile Group

Company, Ltd., H Shares 231,080 191,390Guangzhou R&F Properties

Company, Ltd., H Shares 103,600 128,734Guotai Junan Securities Company, Ltd.,

H Shares (C) 71,000 94,026Haidilao International

Holding, Ltd. (B)(C) 28,000 136,206Haitian International Holdings, Ltd. 50,400 107,249Haitong Securities Company, Ltd.,

H Shares 231,300 176,827Hansoh Pharmaceutical Group

Company, Ltd. (A)(C) 40,000 174,789Hengan International Group

Company, Ltd. 56,100 461,988Hua Hong

Semiconductor, Ltd. (A)(B)(C) 35,000 65,769Huadian Power International Corp., Ltd.,

H Shares 124,000 38,187Huaneng Power International, Inc.,

H Shares 303,700 113,363


33



COMMON STOCKS (continued)China (continued)Huatai Securities Company, Ltd., H

Shares (C) 133,700 $ 211,035Huazhu Group, Ltd., ADR 10,500 355,110HUYA, Inc., ADR (A) 4,900 76,048Industrial & Commercial Bank of

China, Ltd., H Shares 5,134,800 3,325,902Inner Mongolia Yitai Coal

Company, Ltd., Class B 83,300 48,843Innovent Biologics, Inc. (A)(C) 73,500 403,624iQIYI, Inc., ADR (A)(B) 9,900 164,241JD.com, Inc., ADR (A) 58,500 3,178,305Jiangsu Expressway Company, Ltd.,

H Shares 94,900 112,101Jiangxi Copper Company, Ltd., H Shares 94,400 86,810JOYY, Inc., ADR (A) 4,600 280,830Kaisa Group Holdings, Ltd. 198,000 73,019Kingdee International Software Group

Company, Ltd. (A) 182,000 323,841Kingsoft Cloud Holdings, Ltd., ADR (A) 52 1,051Kingsoft Corp., Ltd. 65,200 212,792KWG Group Holdings, Ltd. (A) 100,500 141,116Legend Holdings Corp., H Shares (C) 32,800 39,892Lenovo Group, Ltd. 572,000 312,799Li Ning Company, Ltd. 155,500 526,794Logan Property Holdings Company, Ltd. 110,000 165,323Longfor Group Holdings, Ltd. (C) 140,900 644,355Luye Pharma Group, Ltd. (B)(C) 92,500 46,486Maanshan Iron & Steel Company, Ltd.,

H Shares 56,000 16,118Meituan Dianping, Class B (A) 80,300 1,529,398Metallurgical Corp. of China, Ltd.,

H Shares 225,000 34,974Momo, Inc., ADR 11,900 230,860NetEase, Inc., ADR 5,600 2,144,240New China Life Insurance

Company, Ltd., H Shares 72,500 227,607New Oriental Education & Technology

Group, Inc., ADR (A) 11,300 1,355,548NIO, Inc., ADR (A)(B) 51,800 206,164Noah Holdings, Ltd., ADR (A)(B) 2,900 76,937PetroChina Company, Ltd., H Shares 1,660,700 572,930PICC Property & Casualty

Company, Ltd., H Shares 576,950 504,789Pinduoduo, Inc., ADR (A) 15,300 1,023,111Ping An Healthcare and Technology

Company, Ltd. (A)(B)(C) 25,400 337,460Ping An Insurance Group Company of

China, Ltd., H Shares 443,800 4,391,901Postal Savings Bank of China

Company, Ltd., H Shares (C) 634,000 406,074Seazen Group, Ltd. (A) 172,000 160,665Semiconductor Manufacturing

International Corp. (A) 239,800 525,735Shandong Weigao Group Medical

Polymer Company, Ltd., H Shares 160,000 280,644Shanghai Electric Group Company, Ltd.,

H Shares 198,000 55,082Shanghai Fosun Pharmaceutical Group

Company, Ltd., H Shares 41,100 131,825Shanghai Lujiazui Finance & Trade Zone

Development Company, Ltd.,B Shares 82,380 58,338

Shanghai Pharmaceuticals HoldingCompany, Ltd., H Shares 65,800 104,312



COMMON STOCKS (continued)China (continued)Shenzhen Expressway Company, Ltd.,

H Shares 54,000 $ 54,809Shenzhou International Group

Holdings, Ltd. 59,400 714,785Shui On Land, Ltd. 295,500 49,022SINA Corp. (A) 4,900 153,419Sino-Ocean Group Holding, Ltd. 236,500 55,095Sinopec Engineering Group

Company, Ltd., H Shares 116,500 48,988Sinopec Shanghai Petrochemical

Company, Ltd., H Shares 255,700 63,655Sinopharm Group Company, Ltd.,

H Shares 107,900 266,483Sinotrans, Ltd., H Shares 171,000 35,602Sinotruk Hong Kong, Ltd. (B) 54,500 132,843SOHO China, Ltd. (A) 161,700 54,848Sunac China Holdings, Ltd. 193,300 817,081Sunny Optical Technology Group

Company, Ltd. 56,400 757,954TAL Education Group, ADR (A) 30,500 1,722,030Tencent Holdings, Ltd. 454,300 24,603,011Tencent Music Entertainment Group,

ADR (A) 7,200 93,024The People’s Insurance Company Group

of China, Ltd., H Shares 702,200 212,416Tingyi Cayman Islands Holding Corp. 154,700 266,327Topsports International

Holdings, Ltd. (C) 97,000 138,758TravelSky Technology, Ltd., H Shares 73,500 148,883Trip.com Group, Ltd., ADR (A) 37,400 993,718Tsingtao Brewery Company, Ltd.,

H Shares 31,000 215,745Uni-President China Holdings, Ltd. 102,000 106,058Vipshop Holdings, Ltd., ADR (A) 34,900 605,166Want Want China Holdings, Ltd. 391,500 283,892Weibo Corp., ADR (A)(B) 4,280 131,696Weichai Power Company, Ltd., H Shares 149,000 258,118WuXi AppTec Company, Ltd., H

Shares (C) 16,436 174,819Wuxi Biologics Cayman, Inc. (A)(C) 61,500 971,193Xiaomi Corp., Class B (A)(C) 826,800 1,294,266Xinjiang Goldwind Science &

Technology Company, Ltd., H Shares 59,000 53,486Xinyi Solar Holdings, Ltd. 320,000 233,194Yangzijiang Shipbuilding Holdings, Ltd. 70,600 47,117Yanzhou Coal Mining Company, Ltd.,

H Shares 132,700 101,874Yihai International Holding, Ltd. (A) 37,000 332,616Yum China Holdings, Inc. 28,284 1,310,681Yuzhou Properties Company, Ltd. 147,000 60,615Zai Lab, Ltd., ADR (A) 3,000 223,200Zhaojin Mining Industry Company, Ltd.,

H Shares 78,000 94,481Zhejiang Expressway Company, Ltd.,

H Shares 117,800 82,983Zhenro Properties Group, Ltd. 117,000 74,580ZhongAn Online P&C Insurance

Company, Ltd., H Shares (A)(C) 25,200 90,095Zhongsheng Group Holdings, Ltd. 44,500 230,235Zhuzhou CRRC Times Electric

Company, Ltd., H Shares 43,800 113,969Zijin Mining Group Company, Ltd.,

H Shares 437,200 174,600


34



COMMON STOCKS (continued)China (continued)Zoomlion Heavy Industry Science and

Technology Company, Ltd., H Shares 105,200 $ 86,563ZTE Corp., H Shares (A) 59,700 153,048ZTO Express Cayman, Inc., ADR 25,000 815,500

128,924,884Colombia - 0.0%Bancolombia SA 20,140 134,987Ecopetrol SA 454,826 242,655Grupo Argos SA 26,598 62,038Grupo de Inversiones Suramericana SA 22,520 109,883Interconexion Electrica SA ESP 40,421 212,400

761,963Czech Republic - 0.0%CEZ AS 13,647 268,532Komercni banka AS (A) 6,405 137,250Moneta Money Bank AS (C) 43,894 97,618

503,400Denmark - 1.9%A.P. Moller - Maersk A/S, Series A 430 394,933A.P. Moller - Maersk A/S, Series B (B) 620 611,272Carlsberg A/S, Class B 10,828 1,403,454Chr. Hansen Holding A/S (B) 10,605 1,029,906Coloplast A/S, B Shares 11,943 2,019,983Danske Bank A/S (A)(B) 65,824 816,583Demant A/S (A)(B) 11,133 315,734DSV Panalpina A/S (B) 21,413 2,269,745Genmab A/S (A) 6,570 2,034,255H Lundbeck A/S 6,970 269,063ISS A/S (A) 16,093 268,900Novo Nordisk A/S, B Shares 178,753 11,709,158Novozymes A/S, B Shares 21,483 1,173,396Orsted A/S (C) 19,075 2,243,311Pandora A/S 10,118 506,958Tryg A/S 12,269 344,687Vestas Wind Systems A/S (B) 19,106 1,951,405

29,362,743Finland - 0.8%Elisa OYJ 11,339 706,564Fortum OYJ 35,882 691,034Kone OYJ, B Shares 27,335 1,837,385Metso OYJ 8,437 275,115Neste OYJ 34,025 1,386,483Nokia OYJ 455,901 1,812,935Nokian Renkaat OYJ 9,943 231,609Nordea Bank ABP 290,806 1,980,634Orion OYJ, Class B 8,390 449,063Sampo OYJ, A Shares 36,967 1,328,243Stora Enso OYJ, R Shares 46,916 575,811UPM-Kymmene OYJ 43,001 1,240,742Wartsila OYJ ABP 35,775 280,704

12,796,322France - 2.8%Accor SA (A) 5,910 167,075Aeroports de Paris 958 99,863Air Liquide SA 16,043 2,181,526Airbus SE (A) 19,928 1,273,539Alstom SA 6,465 272,109Amundi SA (A)(C) 2,242 167,455Arkema SA 2,351 206,160Atos SE (A) 3,334 253,747AXA SA 72,210 1,324,975BioMerieux (B) 1,391 199,876



COMMON STOCKS (continued)France (continued)BNP Paribas SA (A) 38,904 $ 1,399,977Bollore SA 27,200 78,105Bouygues SA (A) 7,506 230,289Bureau Veritas SA (A) 9,573 195,848Capgemini SE 5,419 559,754Carrefour SA 20,411 310,567Casino Guichard Perrachon SA (A)(B) 1,752 66,001Cie de Saint-Gobain 16,875 552,243Cie Generale des Etablissements

Michelin SCA 5,780 584,999CNP Assurances (A) 12,322 130,363Covivio 1,538 89,861Credit Agricole SA (A) 40,809 358,269Danone SA 20,930 1,439,994Dassault Aviation SA (A) 85 71,799Dassault Systemes SE 4,406 752,245Edenred (B) 7,974 333,667Eiffage SA (A) 2,654 242,271Electricite de France SA 20,931 186,766Engie SA 61,747 733,820EssilorLuxottica SA (A) 9,591 1,248,250Eurazeo SE (A) 1,302 63,485Eutelsat Communications SA 5,785 57,920Faurecia SE (A) 2,464 95,534Gecina SA 1,517 194,913Getlink SE (A) 14,694 212,493Hermes International 1,065 890,018ICADE 884 63,374Iliad SA 503 88,111Ingenico Group SA 2,074 288,680Ipsen SA 1,272 99,522JCDecaux SA (A) 2,604 53,357Kering SA 2,574 1,349,445Klepierre SA 6,473 123,109Legrand SA 8,913 610,690L’Oreal SA 8,529 2,501,655LVMH Moet Hennessy Louis Vuitton SE 9,447 3,963,257Natixis SA (A) 35,141 78,801Orange SA (B) 67,164 807,747Pernod Ricard SA 7,192 1,120,778Peugeot SA (A) 20,241 290,568Publicis Groupe SA 7,375 210,152Remy Cointreau SA (B) 734 87,315Renault SA 6,426 145,668Safran SA (A) 11,225 1,081,628Sanofi (B) 38,378 3,753,938Sartorius Stedim Biotech 916 249,316Schneider Electric SE 18,850 1,866,391SCOR SE (A) 5,813 145,776SEB SA 728 100,390Societe Generale SA (A) 28,844 426,685Sodexo SA 2,967 200,169Suez SA 10,683 121,808Teleperformance 1,958 466,234Thales SA (B) 3,610 276,319TOTAL SA 81,587 3,093,845Ubisoft Entertainment SA (A)(B) 3,041 235,962Unibail-Rodamco-Westfield 4,622 245,141Valeo SA 8,109 200,445Veolia Environnement SA (B) 18,016 396,712Vinci SA 17,432 1,626,322Vivendi SA 27,776 635,108Wendel SE 844 77,898


35



COMMON STOCKS (continued)France (continued)Worldline SA (A)(C) 4,330 $ 325,124

44,633,216Germany - 5.9%adidas AG (A)(B) 16,109 4,272,229Allianz SE 37,853 6,860,333BASF SE 82,165 4,472,062Bayer AG 87,875 6,007,102Bayerische Motoren Werke AG 29,648 1,737,555Beiersdorf AG 8,911 936,004Brenntag AG 13,686 728,142Carl Zeiss Meditec AG, Bearer Shares 3,586 366,962Commerzbank AG (A) 87,403 338,857Continental AG 9,744 963,610Covestro AG (C) 15,522 577,062Daimler AG 81,392 3,032,790Delivery Hero SE (A)(C) 10,080 969,820Deutsche Bank AG (A)(B) 176,375 1,476,457Deutsche Boerse AG 17,029 2,803,855Deutsche Lufthansa AG (A)(B) 21,088 214,373Deutsche Post AG 88,297 2,765,306Deutsche Telekom AG 297,503 4,668,905Deutsche Wohnen SE 31,964 1,431,293E.ON SE 199,837 2,119,804Evonik Industries AG 18,765 463,686Fraport AG Frankfurt Airport Services

Worldwide (A)(B) 3,588 179,510Fresenius Medical Care AG &

Company KGaA 19,078 1,613,939Fresenius SE & Company KGaA 37,421 1,809,061GEA Group AG 13,570 406,713Hannover Rueck SE 5,737 926,514HeidelbergCement AG 13,386 669,584Henkel AG & Company KGaA 9,291 747,200HOCHTIEF AG 2,154 190,842Infineon Technologies AG 111,978 2,360,243KION Group AG 5,792 324,258Knorr-Bremse AG 4,211 445,998LANXESS AG 7,515 390,057Merck KGaA 11,551 1,331,542METRO AG 15,635 146,251MTU Aero Engines AG 4,687 757,543Muenchener

Rueckversicherungs-GesellschaftAG (B) 13,188 3,007,379

Puma SE (A) 7,387 531,437RWE AG 52,174 1,738,709SAP SE 87,844 11,210,857Siemens AG 68,385 7,539,772Siemens Healthineers AG (C) 13,275 689,252Symrise AG 11,377 1,252,580Telefonica Deutschland Holding AG 76,448 233,143thyssenkrupp AG (A) 35,881 243,862TUI AG (B) 25,345 138,210Uniper SE 17,835 557,815United Internet AG 9,068 373,535Volkswagen AG 2,838 451,535Vonovia SE 45,767 2,632,429Wirecard AG 10,489 1,112,566Zalando SE (A)(C) 12,389 842,439

92,060,982Hong Kong - 2.9%AIA Group, Ltd. 909,200 7,460,697



COMMON STOCKS (continued)Hong Kong (continued)Alibaba Health Information

Technology, Ltd. (A) 287,100 $ 678,440Alibaba Pictures Group, Ltd. (A)(B) 1,135,600 138,394ASM Pacific Technology, Ltd. 22,600 207,354Beijing Enterprises Holdings, Ltd. 42,000 140,216Beijing Enterprises Water

Group, Ltd. (A) 388,500 147,684BOC Hong Kong Holdings, Ltd. 278,000 783,019Bosideng International Holdings, Ltd. 256,000 66,217Brilliance China Automotive

Holdings, Ltd. 241,500 212,608Budweiser Brewing Company

APAC, Ltd. (C) 98,800 278,504China Education Group Holdings, Ltd. 46,000 79,958China Everbright International, Ltd. 296,200 153,334China Everbright, Ltd. 79,100 111,837China Gas Holdings, Ltd. 144,400 510,505China Jinmao Holdings Group, Ltd. (B) 412,900 288,267China Mengniu Dairy Company, Ltd. (A) 217,900 785,915China Merchants Port Holdings

Company, Ltd. 112,300 137,717China Mobile, Ltd. 487,400 3,446,280China Overseas Land & Investment, Ltd. 305,000 935,368China Power International

Development, Ltd. 323,000 70,943China Resources Beer Holdings

Company, Ltd. 115,200 614,318China Resources Cement Holdings, Ltd. 194,000 245,103China Resources Gas Group, Ltd. 69,100 378,547China Resources Land, Ltd. 253,700 1,011,708China Resources Power Holdings

Company, Ltd. 155,100 180,679China State Construction International

Holdings, Ltd. 161,500 100,042China Taiping Insurance Holdings

Company, Ltd. 147,000 219,910China Traditional Chinese Medicine

Holdings Company, Ltd. 180,000 76,687China Unicom Hong Kong, Ltd. 491,300 285,688CITIC, Ltd. 465,600 446,694CK Asset Holdings, Ltd. 194,000 1,065,556CK Hutchison Holdings, Ltd. 203,500 1,252,925CK Infrastructure Holdings, Ltd. 49,500 248,734CLP Holdings, Ltd. 122,000 1,197,521COSCO SHIPPING Ports, Ltd. 143,700 72,148Dairy Farm International Holdings, Ltd. 24,900 105,225Far East Horizon, Ltd. 172,800 153,735Galaxy Entertainment Group, Ltd. 162,000 1,107,357Geely Automobile Holdings, Ltd. 397,300 548,955Guangdong Investment, Ltd. 232,900 460,542Haier Electronics Group Company, Ltd. 98,700 276,348Hang Lung Properties, Ltd. 149,000 315,352Hang Seng Bank, Ltd. 56,700 870,826Henderson Land Development

Company, Ltd. 107,041 385,115HK Electric Investments & HK Electric

Investments, Ltd. 181,500 180,033HKT Trust & HKT, Ltd. 280,000 398,328Hong Kong & China Gas Company, Ltd. 752,646 1,269,805Hong Kong Exchanges & Clearing, Ltd. 90,100 3,170,926Hongkong Land Holdings, Ltd. 87,600 330,530Hutchison China MediTech, Ltd.,

ADR (A) 4,800 104,688Jardine Matheson Holdings, Ltd. 16,500 663,518


36



COMMON STOCKS (continued)Hong Kong (continued)Jardine Strategic Holdings, Ltd. 16,700 $ 333,709Kerry Properties, Ltd. 49,000 116,537Kingboard Holdings, Ltd. 53,700 130,765Kingboard Laminates Holdings, Ltd. 86,500 76,408Kunlun Energy Company, Ltd. 280,900 173,247Lee & Man Paper Manufacturing, Ltd. 106,500 57,638Link REIT (B) 156,000 1,178,062Melco Resorts &

Entertainment, Ltd., ADR 16,300 261,289MTR Corp., Ltd. 113,500 547,694New World Development Company, Ltd. 454,000 461,433Nine Dragons Paper Holdings, Ltd. 130,900 115,100NWS Holdings, Ltd. 114,000 89,918PCCW, Ltd. 288,000 158,350Power Assets Holdings, Ltd. 103,500 579,560Shanghai Industrial Holdings, Ltd. 40,900 63,954Shenzhen International Holdings, Ltd. 76,500 128,123Shenzhen Investment, Ltd. 232,000 71,909Shimao Property Holdings, Ltd. 91,400 383,317Sino Biopharmaceutical, Ltd. 547,900 865,754Sino Land Company, Ltd. 231,000 271,139SJM Holdings, Ltd. 142,000 158,663SSY Group, Ltd. (B) 120,000 73,979Sun Art Retail Group, Ltd. 187,200 288,154Sun Hung Kai Properties, Ltd. 119,500 1,399,663Swire Pacific, Ltd., Class A 37,500 197,298Swire Properties, Ltd. 87,400 196,104Techtronic Industries Company, Ltd. 102,500 894,198The Bank of East Asia, Ltd. 96,800 175,460The Wharf Holdings, Ltd. 86,000 154,538Towngas China Company, Ltd. (A) 83,000 38,334Vitasoy International Holdings, Ltd. 56,000 209,028WH Group, Ltd. (C) 717,000 623,750Wharf Real Estate Investment

Company, Ltd. (B) 90,000 349,009Wheelock & Company, Ltd. 62,000 420,875Yue Yuen Industrial Holdings, Ltd. 54,500 78,477Yuexiu Property Company, Ltd. 538,000 97,141

45,789,377Hungary - 0.1%MOL Hungarian Oil & Gas PLC 42,322 267,992OTP Bank NYRT (A) 23,449 788,235Richter Gedeon NYRT 14,603 319,156

1,375,383Indonesia - 0.3%Ace Hardware Indonesia Tbk PT (A) 390,900 41,644Adaro Energy Tbk PT 906,500 68,515Astra International Tbk PT 1,252,700 409,961Bank Central Asia Tbk PT 599,700 1,067,099Bank Mandiri Persero Tbk PT 1,130,900 347,530Bank Negara Indonesia Persero Tbk PT 481,000 126,605Bank Rakyat Indonesia Persero Tbk PT 3,357,600 679,863Bank Tabungan Negara Persero Tbk PT 269,500 14,078Barito Pacific Tbk PT (A) 1,628,000 150,788Bukit Asam Tbk PT (A) 211,500 28,305Bumi Serpong Damai Tbk PT (A) 513,600 22,395Charoen Pokphand Indonesia Tbk PT 448,700 177,938Gudang Garam Tbk PT 30,400 101,575Hanjaya Mandala Sampoerna Tbk PT 573,700 76,424Indah Kiat Pulp & Paper Corp. Tbk PT 169,500 61,138Indocement Tunggal Prakarsa Tbk

PT (A) 113,800 94,461Indofood CBP Sukses Makmur Tbk PT 140,000 78,290



COMMON STOCKS (continued)Indonesia (continued)Indofood Sukses Makmur Tbk PT 272,500 $ 107,539Jasa Marga Persero Tbk PT (A) 128,400 31,268Kalbe Farma Tbk PT 1,268,500 123,042Pabrik Kertas Tjiwi Kimia Tbk PT 86,100 23,465Pakuwon Jati Tbk PT 1,082,400 26,918Perusahaan Gas Negara Tbk PT 657,700 38,868Semen Indonesia Persero Tbk PT 184,000 123,681Telekomunikasi Indonesia Persero

Tbk PT 3,039,500 655,911Unilever Indonesia Tbk PT 454,600 241,580United Tractors Tbk PT 102,700 110,540XL Axiata Tbk PT (A) 235,200 41,747

5,071,168Ireland - 0.7%AerCap Holdings NV (A) 12,700 409,448AIB Group PLC (A) 69,821 77,008Bank of Ireland Group PLC (A) 87,479 156,240CRH PLC 68,355 2,201,148DCC PLC 5,409 453,723Experian PLC 49,702 1,743,166Flutter Entertainment PLC 6,744 860,628Flutter Entertainment PLC (London

Stock Exchange) 5,489 698,401James Hardie Industries PLC, CHESS

Depositary Interest 35,319 610,137Kerry Group PLC, Class A 13,681 1,695,087Kingspan Group PLC 12,647 781,332Smurfit Kappa Group PLC 19,501 636,818

10,323,136Isle of Man - 0.0%GVC Holdings PLC 32,174 315,843Israel - 0.4%Azrieli Group, Ltd. 3,208 169,155Bank Hapoalim BM 83,612 514,762Bank Leumi Le-Israel BM 106,902 567,804Check Point Software

Technologies, Ltd. (A) 8,700 954,129CyberArk Software, Ltd. (A) 2,700 280,206ICL Group, Ltd. 52,205 182,028Isracard, Ltd. 4,005 10,948Israel Discount Bank, Ltd., Class A 89,552 284,336Mizrahi Tefahot Bank, Ltd. 10,881 213,000Nice, Ltd. (A) 4,444 824,629Teva Pharmaceutical Industries, Ltd.,

ADR (A) 77,100 966,063Wix.com, Ltd. (A) 3,400 755,922

5,722,982Italy - 1.0%Assicurazioni Generali SpA 75,818 1,056,987Atlantia SpA (A)(B) 30,998 509,600Davide Campari-Milano SpA (B) 36,095 294,536Enel SpA (B) 509,359 3,938,225Eni SpA 158,526 1,441,722Ferrari NV 7,535 1,281,148FinecoBank Banca Fineco SpA (A) 37,687 441,441Intesa Sanpaolo SpA (A) 927,879 1,614,574Leonardo SpA 26,434 165,948Mediobanca Banca di Credito

Finanziario SpA 39,260 258,266Moncler SpA (A) 11,270 422,298Pirelli & C. SpA (A)(B)(C) 24,028 108,139Poste Italiane SpA (C) 33,862 299,603


37



COMMON STOCKS (continued)Italy (continued)Prysmian SpA 15,040 $ 322,352Recordati SpA 6,381 290,591Snam SpA 123,799 579,919Telecom Italia SpA (A)(B) 556,527 206,593Telecom Italia SpA, Savings Shares 393,152 152,147Terna Rete Elettrica Nazionale SpA (B) 85,330 579,708UniCredit SpA (A) 125,176 1,071,527

15,035,324Japan - 20.5%ABC-Mart, Inc. 3,100 188,303Acom Company, Ltd. 38,000 155,251Advantest Corp. 19,100 947,924Aeon Company, Ltd. 62,400 1,382,813AEON Financial Service Company, Ltd. 10,600 119,616Aeon Mall Company, Ltd. 9,800 137,698AGC, Inc. 17,500 496,359Air Water, Inc. 17,300 251,841Aisin Seiki Company, Ltd. 15,500 490,818Ajinomoto Company, Inc. 41,900 714,840Alfresa Holdings Corp. 18,000 363,332Alps Alpine Company, Ltd. 20,300 246,027Amada Company, Ltd. 32,300 288,636ANA Holdings, Inc. (A) 10,900 263,349Aozora Bank, Ltd. 11,500 213,571Asahi Group Holdings, Ltd. 34,800 1,309,518Asahi Intecc Company, Ltd. 18,600 570,995Asahi Kasei Corp. 120,900 960,886Astellas Pharma, Inc. 181,200 3,237,671Bandai Namco Holdings, Inc. 19,100 1,061,898Benesse Holdings, Inc. 6,800 184,490Bridgestone Corp. 54,500 1,808,865Brother Industries, Ltd. 21,600 408,756Calbee, Inc. 7,600 220,067Canon, Inc. 95,800 1,967,214Casio Computer Company, Ltd. 18,600 328,489Central Japan Railway Company 13,800 2,365,070Chubu Electric Power Company, Inc. 61,300 826,310Chugai Pharmaceutical Company, Ltd. 21,400 3,162,324Coca-Cola Bottlers Japan Holdings, Inc. 11,700 232,322Concordia Financial Group, Ltd. 103,300 338,670Credit Saison Company, Ltd. 15,300 182,904CyberAgent, Inc. 9,600 485,457Dai Nippon Printing Company, Ltd. 23,200 528,882Daicel Corp. 24,000 203,690Daifuku Company, Ltd. 9,700 758,854Dai-ichi Life Holdings, Inc. 106,400 1,395,827Daiichi Sankyo Company, Ltd. 54,400 5,111,713Daikin Industries, Ltd. 23,800 3,504,437Daito Trust Construction Company, Ltd. 6,800 719,517Daiwa House Industry Company, Ltd. 54,400 1,349,805Daiwa House REIT Investment Corp. 185 456,226Daiwa Securities Group, Inc. 148,200 617,466Denso Corp. 41,500 1,598,500Dentsu Group, Inc. 20,600 550,517Disco Corp. 2,600 582,486East Japan Railway Company 28,900 2,269,885Eisai Company, Ltd. 24,200 1,899,487Electric Power Development

Company, Ltd. 13,800 261,271FamilyMart Company, Ltd. 24,300 455,532FANUC Corp. 18,600 3,323,794Fast Retailing Company, Ltd. 5,600 3,147,679Fuji Electric Company, Ltd. 12,300 328,593



COMMON STOCKS (continued)Japan (continued)FUJIFILM Holdings Corp. 34,500 $ 1,582,397Fujitsu, Ltd. 18,800 1,937,303Fukuoka Financial Group, Inc. 16,900 275,014GMO Payment Gateway, Inc. 3,900 439,907Hakuhodo DY Holdings, Inc. 22,100 275,218Hamamatsu Photonics KK 13,300 604,273Hankyu Hanshin Holdings, Inc. 21,800 806,749Hikari Tsushin, Inc. 2,000 438,646Hino Motors, Ltd. 28,300 191,890Hirose Electric Company, Ltd. 3,100 370,606Hisamitsu Pharmaceutical Company, Inc. 4,900 248,095Hitachi Chemical Company, Ltd. 9,900 424,532Hitachi Construction Machinery

Company, Ltd. 10,400 274,341Hitachi Metals, Ltd. 20,500 236,189Hitachi, Ltd. 93,000 3,003,828Honda Motor Company, Ltd. 156,500 4,075,042Hoshizaki Corp. 5,200 419,817Hoya Corp. 36,300 3,415,592Hulic Company, Ltd. 28,700 290,612Idemitsu Kosan Company, Ltd. 18,697 416,266IHI Corp. 14,400 207,666Iida Group Holdings Company, Ltd. 14,200 211,051Inpex Corp. 98,500 689,723Isetan Mitsukoshi Holdings, Ltd. 31,800 213,432Isuzu Motors, Ltd. 53,200 499,689ITOCHU Corp. 129,600 2,786,982Itochu Techno-Solutions Corp. 9,000 304,609J Front Retailing Company, Ltd. 21,900 186,424Japan Airlines Company, Ltd. 11,000 216,004Japan Airport Terminal Company, Ltd. 4,800 211,279Japan Exchange Group, Inc. 49,100 1,059,329Japan Post Bank Company, Ltd. 36,500 302,053Japan Post Holdings Company, Ltd. 155,300 1,132,856Japan Post Insurance Company, Ltd. 23,000 293,105Japan Prime Realty Investment Corp. 74 225,474Japan Real Estate Investment Corp. 125 680,367Japan Retail Fund Investment Corp. 249 328,398Japan Tobacco, Inc. 114,800 2,278,343JFE Holdings, Inc. 46,500 342,407JGC Holdings Corp. 21,300 229,695JSR Corp. 18,500 364,451JTEKT Corp. 20,100 162,735JXTG Holdings, Inc. 293,300 1,133,585Kajima Corp. 43,400 492,805Kakaku.com, Inc. 12,800 310,841Kamigumi Company, Ltd. 10,300 201,865Kansai Paint Company, Ltd. 16,900 350,314Kao Corp. 46,200 3,719,110Kawasaki Heavy Industries, Ltd. 13,800 219,200KDDI Corp. 169,400 4,944,650Keihan Holdings Company, Ltd. 9,100 433,896Keikyu Corp. 20,900 350,650Keio Corp. 9,800 584,292Keisei Electric Railway Company, Ltd. 12,300 404,137Keyence Corp. 17,500 7,208,235Kikkoman Corp. 13,900 701,345Kintetsu Group Holdings Company, Ltd. 16,300 800,855Kirin Holdings Company, Ltd. 78,700 1,615,276Kobayashi Pharmaceutical

Company, Ltd. 4,700 420,473Koito Manufacturing Company, Ltd. 10,000 425,338Komatsu, Ltd. 88,800 1,795,663Konami Holdings Corp. 9,000 316,198


38



COMMON STOCKS (continued)Japan (continued)Konica Minolta, Inc. 43,800 $ 162,728Kose Corp. 3,200 402,983Kubota Corp. 99,500 1,339,871Kuraray Company, Ltd. 30,600 322,160Kurita Water Industries, Ltd. 9,500 263,034Kyocera Corp. 30,800 1,668,424Kyowa Kirin Company, Ltd. 23,300 632,289Kyushu Electric Power Company, Inc. 35,500 295,884Kyushu Railway Company 15,200 431,951Lawson, Inc. 4,600 255,189LINE Corp. (A) 5,600 280,386Lion Corp. 21,200 488,140LIXIL Group Corp. 25,400 354,842M3, Inc. 42,300 1,708,680Makita Corp. 21,500 730,457Marubeni Corp. 151,300 736,637Marui Group Company, Ltd. 18,000 325,655Maruichi Steel Tube, Ltd. 5,200 133,403Mazda Motor Corp. 54,000 348,598McDonald’s Holdings Company

Japan, Ltd. 6,200 329,942Mebuki Financial Group, Inc. 85,600 194,586Medipal Holdings Corp. 17,500 346,682MEIJI Holdings Company, Ltd. 10,900 823,088Mercari, Inc. (A) 7,300 218,466MINEBEA MITSUMI, Inc. 35,000 616,995MISUMI Group, Inc. 27,100 721,342Mitsubishi Chemical Holdings Corp. 122,900 723,927Mitsubishi Corp. 129,700 3,031,246Mitsubishi Electric Corp. 175,400 2,315,533Mitsubishi Estate Company, Ltd. 113,400 1,802,424Mitsubishi Gas Chemical Company, Inc. 15,700 234,654Mitsubishi Heavy Industries, Ltd. 31,000 804,687Mitsubishi Materials Corp. 10,500 239,536Mitsubishi Motors Corp. 61,800 175,070Mitsubishi UFJ Financial Group, Inc. 1,177,500 4,887,960Mitsubishi UFJ Lease & Finance

Company, Ltd. 39,000 191,239Mitsui & Company, Ltd. 159,200 2,420,971Mitsui Chemicals, Inc. 17,700 369,103Mitsui Fudosan Company, Ltd. 84,600 1,627,484Mitsui OSK Lines, Ltd. 11,400 202,577Mizuho Financial Group, Inc. 2,311,300 2,884,830MonotaRO Company, Ltd. 11,900 432,890MS&AD Insurance Group Holdings, Inc. 47,800 1,407,943Murata Manufacturing Company, Ltd. 55,100 3,099,253Nabtesco Corp. 10,800 337,118Nagoya Railroad Company, Ltd. 17,600 531,059NEC Corp. 23,700 1,065,606Nexon Company, Ltd. 47,400 987,618NGK Insulators, Ltd. 25,500 374,294NGK Spark Plug Company, Ltd. 15,100 244,309NH Foods, Ltd. 7,900 292,307Nidec Corp. 42,900 2,640,781Nikon Corp. 30,700 282,562Nintendo Company, Ltd. 10,700 4,350,394Nippon Building Fund, Inc. 127 794,277Nippon Express Company, Ltd. 7,500 385,814Nippon Paint Holdings Company, Ltd. 14,000 979,692Nippon Prologis REIT, Inc. 187 527,022Nippon Shinyaku Company, Ltd. 4,400 380,215Nippon Steel Corp. 76,400 705,438Nippon Telegraph & Telephone Corp. 123,400 2,808,731Nippon Yusen KK 14,500 209,675



COMMON STOCKS (continued)Japan (continued)Nissan Chemical Corp. 12,000 $ 532,425Nissan Motor Company, Ltd. 220,800 836,772Nisshin Seifun Group, Inc. 18,900 294,992Nissin Foods Holdings Company, Ltd. 6,000 502,934Nitori Holdings Company, Ltd. 7,600 1,376,009Nitto Denko Corp. 15,300 830,799Nomura Holdings, Inc. (B) 322,600 1,390,351Nomura Real Estate Holdings, Inc. 12,200 225,188Nomura Real Estate Master Fund, Inc. 390 478,781Nomura Research Institute, Ltd. 32,400 859,239NSK, Ltd. 34,700 255,225NTT Data Corp. 60,500 701,304NTT DOCOMO, Inc. 127,700 3,509,666Obayashi Corp. 62,900 583,258Obic Company, Ltd. 6,200 1,077,191Odakyu Electric Railway Company, Ltd. 27,900 698,338Oji Holdings Corp. 82,600 415,485Olympus Corp. 111,800 1,943,901Omron Corp. 17,800 1,181,986Ono Pharmaceutical Company, Ltd. 35,500 1,018,257Oracle Corp. Japan 3,600 421,191Oriental Land Company, Ltd. 19,100 2,774,637ORIX Corp. 129,200 1,709,765Orix JREIT, Inc. 248 358,449Osaka Gas Company, Ltd. 35,400 710,560Otsuka Corp. 9,900 479,422Otsuka Holdings Company, Ltd. 37,500 1,691,327Pan Pacific International Holdings Corp. 42,200 850,941Panasonic Corp. 212,400 1,902,870Park24 Company, Ltd. 11,000 212,489PeptiDream, Inc. (A) 9,000 404,613Persol Holdings Company, Ltd. 17,100 225,991Pigeon Corp. 11,000 430,134Pola Orbis Holdings, Inc. 8,600 168,113Rakuten, Inc. 82,300 749,294Recruit Holdings Company, Ltd. 130,000 4,478,103Renesas Electronics Corp. (A) 74,200 385,941Resona Holdings, Inc. 203,400 735,589Ricoh Company, Ltd. 64,400 477,343Rinnai Corp. 3,200 270,344Rohm Company, Ltd. 9,000 609,657Ryohin Keikaku Company, Ltd. 22,900 347,289Sankyo Company, Ltd. 4,100 105,758Santen Pharmaceutical Company, Ltd. 34,400 637,159SBI Holdings, Inc. 23,100 497,179Secom Company, Ltd. 20,100 1,744,660Sega Sammy Holdings, Inc. 16,500 215,374Seibu Holdings, Inc. 18,800 245,780Seiko Epson Corp. 27,000 305,944Sekisui Chemical Company, Ltd. 35,300 494,803Sekisui House, Ltd. 59,700 1,139,622Seven & i Holdings Company, Ltd. 72,200 2,476,540Seven Bank, Ltd. 55,800 159,481SG Holdings Company, Ltd. 13,700 447,970Sharp Corp. (B) 20,400 222,153Shimadzu Corp. 21,200 576,445Shimamura Company, Ltd. 2,100 147,872Shimano, Inc. 7,100 1,305,910Shimizu Corp. 56,900 481,646Shin-Etsu Chemical Company, Ltd. 34,000 3,981,842Shinsei Bank, Ltd. 19,000 243,017Shionogi & Company, Ltd. 25,800 1,529,964Shiseido Company, Ltd. 38,300 2,349,706Showa Denko KK 13,000 312,127


39



COMMON STOCKS (continued)Japan (continued)SMC Corp. 5,500 $ 2,784,641Softbank Corp. 160,100 2,032,932SoftBank Group Corp. 150,300 6,865,069Sohgo Security Services Company, Ltd. 6,800 334,796Sompo Holdings, Inc. 33,200 1,184,299Sony Corp. 122,000 7,901,436Sony Financial Holdings, Inc. 16,200 391,102Square Enix Holdings Company, Ltd. 8,800 428,683Stanley Electric Company, Ltd. 12,500 305,377Subaru Corp. 59,000 1,307,128SUMCO Corp. 24,000 370,591Sumitomo Chemical Company, Ltd. 145,000 450,600Sumitomo Corp. 114,400 1,378,417Sumitomo Dainippon Pharma

Company, Ltd. 15,300 216,689Sumitomo Electric Industries, Ltd. 72,800 851,723Sumitomo Heavy Industries, Ltd. 10,900 250,067Sumitomo Metal Mining Company, Ltd. 22,300 621,646Sumitomo Mitsui Financial Group, Inc. 124,800 3,621,987Sumitomo Mitsui Trust Holdings, Inc. 30,500 902,341Sumitomo Realty & Development

Company, Ltd. 32,000 886,110Sumitomo Rubber Industries, Ltd. 15,900 162,416Sundrug Company, Ltd. 6,800 229,060Suntory Beverage & Food, Ltd. 13,200 540,214Suzuken Company, Ltd. 6,900 251,032Suzuki Motor Corp. 35,300 1,230,547Sysmex Corp. 16,000 1,283,996T&D Holdings, Inc. 55,700 505,934Taiheiyo Cement Corp. 11,800 279,684Taisei Corp. 19,400 673,911Taisho Pharmaceutical Holdings

Company, Ltd. 3,200 203,818Taiyo Nippon Sanso Corp. 12,500 210,137Takeda Pharmaceutical Company, Ltd. 143,496 5,613,463TDK Corp. 12,500 1,172,807Teijin, Ltd. 17,300 283,536Terumo Corp. 61,900 2,434,759The Bank of Kyoto, Ltd. 5,100 183,893The Chiba Bank, Ltd. 53,800 256,816The Chugoku Electric Power

Company, Inc. 25,900 356,217The Kansai Electric Power

Company, Inc. 67,400 672,582The Shizuoka Bank, Ltd. 43,500 277,754The Yokohama Rubber Company, Ltd. 11,400 172,844THK Company, Ltd. 11,500 300,880Tobu Railway Company, Ltd. 18,100 642,420Toho Company, Ltd. 10,700 393,405Toho Gas Company, Ltd. 7,000 347,411Tohoku Electric Power Company, Inc. 40,000 415,211Tokio Marine Holdings, Inc. 62,200 2,698,846Tokyo Century Corp. 4,200 183,781Tokyo Electric Power Company

Holdings, Inc. (A) 147,300 497,967Tokyo Electron, Ltd. 15,000 3,018,500Tokyo Gas Company, Ltd. 35,800 857,122Tokyu Corp. 47,500 755,292Tokyu Fudosan Holdings Corp. 59,400 300,352Toppan Printing Company, Ltd. 27,000 462,694Toray Industries, Inc. 133,500 649,912Toshiba Corp. 37,000 1,014,751Tosoh Corp. 25,700 358,383TOTO, Ltd. 13,400 533,567



COMMON STOCKS (continued)Japan (continued)Toyo Seikan Group Holdings, Ltd. 13,900 $ 148,019Toyo Suisan Kaisha, Ltd. 8,400 440,183Toyoda Gosei Company, Ltd. 6,200 133,100Toyota Industries Corp. 14,100 724,440Toyota Motor Corp. 218,900 13,795,590Toyota Tsusho Corp. 20,600 524,122Trend Micro, Inc. 12,100 666,011Tsuruha Holdings, Inc. 3,500 518,203Unicharm Corp. 38,600 1,441,357United Urban Investment Corp. 281 297,507USS Company, Ltd. 20,700 360,949Welcia Holdings Company, Ltd. 4,500 378,618West Japan Railway Company 15,500 1,003,433Yakult Honsha Company, Ltd. 11,400 700,329Yamada Denki Company, Ltd. 59,600 290,043Yamaha Corp. 13,800 673,233Yamaha Motor Company, Ltd. 27,400 396,897Yamato Holdings Company, Ltd. 29,600 658,539Yamazaki Baking Company, Ltd. 11,500 206,160Yaskawa Electric Corp. 23,000 829,661Yokogawa Electric Corp. 22,100 319,660Z Holdings Corp. 254,300 1,045,950ZOZO, Inc. 10,400 191,808

320,920,688Luxembourg - 0.1%ArcelorMittal SA (A) 22,499 215,484Aroundtown SA 108,843 598,644Eurofins Scientific SE 389 264,479Millicom International Cellular SA 8,728 208,463Reinet Investments SCA 11,492 180,472SES SA 12,257 90,804Tenaris SA (B) 29,175 183,607

1,741,953Macau - 0.1%Sands China, Ltd. 180,000 707,057Wynn Macau, Ltd. 113,600 194,572

901,629Malaysia - 0.4%AirAsia Group BHD 94,700 15,092AMMB Holdings BHD 110,300 80,596Axiata Group BHD 175,200 153,052Carlsberg Brewery Malaysia BHD 9,800 65,278CIMB Group Holdings BHD 317,200 275,576Dialog Group BHD 227,700 209,388DiGi.Com BHD 191,200 199,938Fraser & Neave Holdings BHD 9,000 67,397Gamuda BHD 112,200 100,893Genting BHD 140,300 129,357Genting Malaysia BHD 192,800 103,031Genting Plantations BHD 17,200 40,045HAP Seng Consolidated BHD 40,300 69,470Hartalega Holdings BHD 96,400 278,570Hong Leong Bank BHD 42,900 134,404Hong Leong Financial Group BHD 15,700 48,492IHH Healthcare BHD 141,700 177,337IJM Corp. BHD 177,500 78,638IOI Corp. BHD 123,000 128,826Kuala Lumpur Kepong BHD 27,900 141,337Malayan Banking BHD 248,400 429,146Malaysia Airports Holdings BHD 61,800 71,227Maxis BHD 147,800 179,367MISC BHD 84,900 162,432Nestle Malaysia BHD 4,000 128,100


40



COMMON STOCKS (continued)Malaysia (continued)Petronas Chemicals Group BHD 154,700 $ 224,791Petronas Dagangan BHD 18,300 98,944Petronas Gas BHD 49,600 217,094PPB Group BHD 37,000 147,917Press Metal Aluminium Holdings BHD 89,600 77,752Public Bank BHD 199,300 672,922QL Resources BHD 39,200 91,164RHB Bank BHD 99,600 109,415Sime Darby BHD 180,400 86,943Sime Darby Plantation BHD 133,100 152,175Telekom Malaysia BHD 73,300 71,137Tenaga Nasional BHD 199,300 517,123Top Glove Corp. BHD 97,300 298,272Westports Holdings BHD 50,300 46,252YTL Corp. BHD 163,978 39,294

6,318,184Mexico - 0.5%Alfa SAB de CV, Class A (B) 248,000 131,524Alsea SAB de CV (A)(B) 43,300 36,535America Movil SAB de CV, Series L 2,756,700 1,832,454Arca Continental SAB de CV (B) 35,900 160,327Cemex SAB de CV 1,235,148 292,432Coca-Cola Femsa SAB de CV 43,900 193,224El Puerto de Liverpool SAB de CV,

Series C1 14,800 36,976Fibra Uno Administracion SA de CV 259,100 198,755Fomento Economico Mexicano SAB

de CV 160,400 1,085,319Gruma SAB de CV, Class B 17,240 171,051Grupo Aeroportuario del Pacifico SAB

de CV, B Shares 29,300 195,029Grupo Aeroportuario del Sureste SAB de

CV, B Shares (B) 16,945 176,010Grupo Bimbo SAB de CV, Series A (B) 132,200 206,755Grupo Carso SAB de CV, Series A1 (B) 37,400 86,473Grupo Financiero Banorte SAB de CV,

Series O 212,100 646,119Grupo Financiero Inbursa SAB de CV,

Series O (A) 185,600 126,889Grupo Mexico SAB de CV, Series B 286,500 617,200Grupo Televisa SAB (A) 199,700 236,673Industrias Penoles SAB de CV (B) 10,710 101,282Infraestructura Energetica Nova SAB

de CV 42,700 121,700Kimberly-Clark de Mexico SAB de CV,

Class A 122,900 191,324Megacable Holdings SAB de CV 25,800 77,954Orbia Advance Corp. SAB de CV 87,035 126,503Promotora y Operadora de

Infraestructura SAB de CV (A)(B) 18,720 141,423Wal-Mart de Mexico SAB de CV 428,600 1,072,732

8,262,663Netherlands - 3.5%ABN AMRO Bank NV (C) 42,598 338,941Adyen NV (A)(C) 1,061 1,391,270Aegon NV (B) 191,287 513,357Akzo Nobel NV 20,604 1,691,955Altice Europe NV (A) 62,772 247,962ASML Holding NV 43,223 14,158,983EXOR NV 7,009 378,124Heineken Holding NV (B) 11,566 951,049Heineken NV 26,249 2,404,163ING Groep NV 395,363 2,570,494



COMMON STOCKS (continued)Netherlands (continued)Just Eat Takeaway.com NV (A)(C) 11,673 $ 1,270,896Koninklijke Ahold Delhaize NV 111,471 2,826,227Koninklijke DSM NV (B) 18,394 2,352,864Koninklijke KPN NV 360,491 881,173Koninklijke Philips NV (A) 91,930 4,179,412Koninklijke Vopak NV 7,021 384,491NN Group NV 32,824 1,007,535NXP Semiconductors NV 28,400 2,729,240Prosus NV (A) 49,522 4,132,228QIAGEN NV (A) 20,189 882,238Randstad NV 12,007 505,172Royal Dutch Shell PLC, A Shares 230,116 3,642,273Royal Dutch Shell PLC, B Shares 202,684 3,094,337Wolters Kluwer NV 27,528 2,197,019

54,731,403New Zealand - 0.1%a2 Milk Company, Ltd. (A) 27,547 326,201Auckland International Airport, Ltd. 46,119 186,828Fisher & Paykel Healthcare Corp., Ltd. 21,487 400,617Fletcher Building, Ltd. 31,373 68,571Mercury NZ, Ltd. 26,200 75,888Meridian Energy, Ltd. 47,514 140,723Ryman Healthcare, Ltd. 15,381 115,981Spark New Zealand, Ltd. 69,756 191,757

1,506,566Norway - 0.2%Aker BP ASA 4,027 65,093DNB ASA 37,527 512,163Equinor ASA (B) 38,546 562,141Gjensidige Forsikring ASA (A) 8,516 155,254Mowi ASA 16,859 317,760Norsk Hydro ASA (A) 50,847 129,258Orkla ASA 29,382 263,902Schibsted ASA, B Shares (A) 3,808 91,378Telenor ASA 27,596 418,284Yara International ASA 6,840 235,295

2,750,528Peru - 0.1%Cia de Minas Buenaventura SAA, ADR 20,500 160,925Credicorp, Ltd. 6,553 903,134Southern Copper Corp. 8,100 294,030

1,358,089Philippines - 0.2%Aboitiz Equity Ventures, Inc. 165,230 139,886Aboitiz Power Corp. 122,700 67,712Altus San Nicolas Corp. (A)(D) 2,753 282Ayala Corp. 23,880 353,598Ayala Land, Inc. 622,080 393,938Bank of the Philippine Islands 78,180 102,623BDO Unibank, Inc. 165,270 328,436Globe Telecom, Inc. 2,780 125,991GT Capital Holdings, Inc. 8,063 61,756International Container Terminal

Services, Inc. 82,770 143,415JG Summit Holdings, Inc. 242,580 233,751Jollibee Foods Corp. 36,690 78,910Manila Electric Company 18,600 104,179Megaworld Corp. 990,500 55,884Metro Pacific Investments Corp. 1,181,700 67,699Metropolitan Bank & Trust Company 154,259 107,500PLDT, Inc. 7,255 180,559Robinsons Land Corp. 178,200 52,140


41



COMMON STOCKS (continued)Philippines (continued)Security Bank Corp. 16,790 $ 27,205SM Investments Corp. (A) 20,365 369,056SM Prime Holdings, Inc. (A) 850,400 507,610Universal Robina Corp. 73,850 191,082

3,693,212Poland - 0.1%Bank Millennium SA (A) 24,116 15,098Bank Polska Kasa Opieki SA 7,763 101,313CCC SA 1,337 16,214CD Projekt SA (A) 2,985 300,906Cyfrowy Polsat SA 10,787 70,355Dino Polska SA (A)(C) 2,139 97,591Grupa Lotos SA 4,017 59,656KGHM Polska Miedz SA (A) 6,310 135,275LPP SA 57 97,658mBank SA (A) 709 37,871Orange Polska SA (A) 28,726 46,532PGE Polska Grupa Energetyczna SA (A) 36,663 44,218Polski Koncern Naftowy ORLEN SA 13,295 221,849Polskie Gornictwo Naftowe i

Gazownictwo SA 75,704 79,548Powszechna Kasa Oszczednosci Bank

Polski SA 39,007 215,805Powszechny Zaklad Ubezpieczen SA 29,574 220,354Santander Bank Polska SA (A) 1,515 61,593

1,821,836Portugal - 0.1%EDP - Energias de Portugal SA 204,128 953,602Galp Energia SGPS SA 39,731 472,727Jeronimo Martins SGPS SA (A) 19,690 335,748

1,762,077Romania - 0.0%NEPI Rockcastle PLC 30,003 153,418Russia - 0.0%Evraz PLC 27,780 97,338Singapore - 0.3%Ascendas Real Estate Investment Trust 79,300 176,484BOC Aviation, Ltd. (C) 17,000 93,834CapitaLand Commercial Trust 71,600 88,953CapitaLand Mall Trust 70,600 101,866CapitaLand, Ltd. (A) 72,800 149,485City Developments, Ltd. 12,900 70,569ComfortDelGro Corp., Ltd. 60,600 61,913DBS Group Holdings, Ltd. 50,000 691,725Genting Singapore, Ltd. 177,800 99,073Jardine Cycle & Carriage, Ltd. 3,000 46,579Keppel Corp., Ltd. 41,800 175,314Mapletree Commercial Trust 57,900 82,376Oversea-Chinese Banking Corp., Ltd. 96,400 585,298SATS, Ltd. 19,100 36,062Sembcorp Industries, Ltd. 28,100 27,088Singapore Airlines, Ltd. 14,700 39,788Singapore Exchange, Ltd. 22,800 133,953Singapore Press Holdings, Ltd. 43,500 39,523Singapore Technologies

Engineering, Ltd. 42,700 96,702Singapore Telecommunications, Ltd. 228,960 403,209Suntec Real Estate Investment Trust 48,100 50,255United Overseas Bank, Ltd. 35,900 497,232UOL Group, Ltd. 13,400 65,126Venture Corp., Ltd. 7,700 83,677



COMMON STOCKS (continued)Singapore (continued)Wilmar International, Ltd. 55,300 $ 156,228

4,052,312South Africa - 1.0%Absa Group, Ltd. 53,186 247,320Anglo American Platinum, Ltd. 4,048 256,674AngloGold Ashanti, Ltd. 31,510 767,830Aspen Pharmacare Holdings, Ltd. (A) 29,783 238,274Bid Corp., Ltd. 25,439 359,093Capitec Bank Holdings, Ltd. 3,396 164,722Clicks Group, Ltd. 19,809 263,067Discovery, Ltd. 33,367 187,673Exxaro Resources, Ltd. 19,417 137,731FirstRand, Ltd. 259,146 595,125Fortress REIT, Ltd., Class A 82,562 52,185Gold Fields, Ltd. 62,697 483,905Growthpoint Properties, Ltd. 229,240 163,399Impala Platinum Holdings, Ltd. 61,443 410,031Investec, Ltd. 32,205 56,646Kumba Iron Ore, Ltd. 4,940 133,414Liberty Holdings, Ltd. 14,114 50,181Life Healthcare Group Holdings, Ltd. 101,334 105,264Momentum Metropolitan Holdings 80,807 79,344Mr. Price Group, Ltd. 19,188 142,821MTN Group, Ltd. 130,706 405,181MultiChoice Group, Ltd. (A) 33,434 165,186Naspers, Ltd., N Shares 34,154 5,560,032Nedbank Group, Ltd. 29,266 165,647Northam Platinum, Ltd. (A) 26,956 169,130Old Mutual, Ltd. 384,570 246,767Pepkor Holdings, Ltd. (C) 62,131 42,351Pick n Pay Stores, Ltd. 27,474 83,337PSG Group, Ltd. 11,081 102,066Rand Merchant Investment

Holdings, Ltd. 68,800 107,005Redefine Properties, Ltd. 421,070 46,397Remgro, Ltd. 39,603 312,999RMB Holdings, Ltd. 56,653 172,557Sanlam, Ltd. 145,447 469,795Sasol, Ltd. (A) 43,582 228,188Shoprite Holdings, Ltd. 35,863 211,393Sibanye Stillwater, Ltd. (A) 174,210 319,918Standard Bank Group, Ltd. 98,344 572,423Telkom SA SOC, Ltd. 23,002 23,261The Bidvest Group, Ltd. 21,452 186,211The Foschini Group, Ltd. 17,653 63,298The SPAR Group, Ltd. 14,208 142,046Tiger Brands, Ltd. 12,317 110,168Vodacom Group, Ltd. 49,137 352,794Woolworths Holdings, Ltd. 72,636 120,037

15,272,886South Korea - 4.6%Amorepacific Corp. 3,944 520,967AMOREPACIFIC Group 3,559 166,885BGF retail Company, Ltd. 948 127,932BNK Financial Group, Inc. 36,893 151,873Celltrion Healthcare Company, Ltd. (A) 6,479 477,312Celltrion Pharm, Inc. (A) 94 6,986Celltrion, Inc. (A) 11,554 2,000,554Cheil Worldwide, Inc. 8,445 113,528CJ CheilJedang Corp. 1,014 243,680CJ Corp. 1,829 136,167CJ ENM Company, Ltd. 1,335 131,079CJ Logistics Corp. (A) 1,101 143,424


42



COMMON STOCKS (continued)South Korea (continued)Coway Company, Ltd. 6,308 $ 339,693Daelim Industrial Company, Ltd. 3,481 260,487Daewoo Engineering & Construction

Company, Ltd. (A) 24,320 75,535Daewoo Shipbuilding & Marine

Engineering Company, Ltd. (A) 4,572 80,921DB Insurance Company, Ltd. 6,681 234,915Doosan Bobcat, Inc. 6,245 119,955E-MART, Inc. 2,540 233,637Fila Holdings Corp. 6,042 188,581GS Engineering & Construction Corp. 7,657 177,253GS Holdings Corp. 6,375 194,580GS Retail Company, Ltd. 3,267 112,586Hana Financial Group, Inc. 37,217 899,226Hankook Tire & Technology

Company, Ltd. 9,329 177,308Hanmi Pharm Company, Ltd. 781 150,021Hanon Systems 22,302 175,849Hanwha Life Insurance Company, Ltd. 12,752 15,781HDC Hyundai Development

Co-Engineering & Construction,Series E 5,020 81,110

Helixmith Company, Ltd. (A) 2,947 149,946HLB, Inc. (A) 4,503 412,786Hotel Shilla Company, Ltd. 3,853 247,636Hyundai Department Store

Company, Ltd. 1,754 90,862Hyundai Engineering & Construction

Company, Ltd. 9,680 268,431Hyundai Glovis Company, Ltd. 2,341 214,343Hyundai Heavy Industries Holdings

Company, Ltd. 1,209 265,262Hyundai Marine & Fire Insurance

Company, Ltd. 8,070 158,484Hyundai Mobis Company, Ltd. 8,210 1,316,367Hyundai Motor Company 18,345 1,458,582Hyundai Steel Company 10,074 178,886Industrial Bank of Korea 33,896 227,665Kakao Corp. 6,322 1,350,143Kangwon Land, Inc. 14,505 284,948KB Financial Group, Inc. 48,950 1,335,900KCC Corp. 594 69,159Kia Motors Corp. 32,469 902,850KMW Company, Ltd. (A) 3,167 149,796Korea Aerospace Industries, Ltd. 9,053 186,088Korea Electric Power Corp. (A) 31,359 549,881Korea Gas Corp. 3,492 84,565Korea Investment Holdings

Company, Ltd. 5,556 238,022Korea Shipbuilding & Offshore

Engineering Company, Ltd. (A) 4,770 351,805Korea Zinc Company, Ltd. 1,042 319,132Korean Air Lines Company, Ltd. (A) 5,641 94,941KT&G Corp. 14,318 971,739Kumho Petrochemical Company, Ltd. 2,304 132,568LG Chem, Ltd. 5,624 1,782,576LG Corp. 11,808 603,576LG Display Company, Ltd. (A) 28,068 232,961LG Electronics, Inc. 13,128 631,216LG Household & Health Care, Ltd. 1,150 1,274,583LG Innotek Company, Ltd. 1,769 211,951LG Uplus Corp. 26,236 279,421Lotte Chemical Corp. 2,118 322,984Lotte Corp. 3,168 87,910



COMMON STOCKS (continued)South Korea (continued)Lotte Shopping Company, Ltd. 1,356 $ 97,860Medy-Tox, Inc. 550 75,528Meritz Securities Company, Ltd. 41,491 110,593Mirae Asset Daewoo Company, Ltd. 52,848 264,924NAVER Corp. 17,135 3,133,798NCSoft Corp. 2,016 1,287,784Netmarble Corp. (A)(C) 3,120 233,104NH Investment & Securities

Company, Ltd. 19,940 157,550OCI Company, Ltd. (A) 2,328 74,451Orion Corp. 2,892 308,399Ottogi Corp. 152 67,809Pan Ocean Company, Ltd. (A) 33,960 98,522Pearl Abyss Corp. (A) 779 128,747POSCO 9,658 1,420,903POSCO Chemical Company, Ltd. 2,982 134,357Posco International Corp. 6,461 83,743S-1 Corp. 2,014 151,455Samsung Biologics

Company, Ltd. (A)(C) 2,028 1,022,526Samsung C&T Corp. 10,517 845,216Samsung Card Company, Ltd. 3,494 83,563Samsung Electro-Mechanics

Company, Ltd. 6,891 699,277Samsung Electronics Company, Ltd. 584,679 24,080,637Samsung Engineering Company, Ltd. (A) 19,406 190,651Samsung Fire & Marine

Insurance Company, Ltd. 3,876 572,751Samsung Heavy Industries

Company, Ltd. (A) 53,506 209,057Samsung Life Insurance Company, Ltd. 9,467 351,025Samsung SDI Company, Ltd. 6,749 1,965,079Samsung SDS Company, Ltd. 4,261 658,067Samsung Securities Company, Ltd. 8,623 195,756Shinhan Financial Group Company, Ltd. 56,206 1,373,779Shinsegae, Inc. 908 180,236SK Holdings Company, Ltd. 4,330 839,518SK Hynix, Inc. 66,896 4,436,048SK Innovation Company, Ltd. 6,783 653,211SK Telecom Company, Ltd. 2,475 432,263S-Oil Corp. 5,452 312,928Woori Financial Group, Inc. 66,110 487,838Yuhan Corp. 5,708 240,146

72,834,889Spain - 1.8%ACS Actividades de Construccion y

Servicios SA 23,021 589,109Aena SME SA (A)(C) 6,013 858,157Amadeus IT Group SA 38,545 2,015,573AmRest Holdings SE (A) 3,314 21,703Banco Bilbao Vizcaya Argentaria SA 596,378 1,836,759Banco de Sabadell SA 508,298 155,724Banco Santander SA 1,483,721 3,392,260Bankia SA 112,064 98,675Bankinter SA 59,282 251,850CaixaBank SA 317,120 589,920Cellnex Telecom SA (A)(C) 22,386 1,256,039Enagas SA 21,871 492,966Endesa SA 28,264 675,123Ferrovial SA 43,670 1,190,087Grifols SA 26,593 829,869Iberdrola SA 549,711 5,951,987Industria de Diseno Textil SA (B) 97,617 2,718,970


43



COMMON STOCKS (continued)Spain (continued)Mapfre SA 111,988 $ 197,478Naturgy Energy Group SA 26,030 485,424Red Electrica Corp. SA 38,112 671,082Repsol SA 126,217 1,188,343Siemens Gamesa Renewable Energy SA 21,238 360,823Telefonica SA 417,937 1,957,071

27,784,992Sweden - 1.9%Alfa Laval AB (A) 28,389 576,923Assa Abloy AB, B Shares 90,281 1,842,670Atlas Copco AB, A Shares 60,689 2,400,551Atlas Copco AB, B Shares 35,177 1,250,266Boliden AB 24,526 535,927Electrolux AB, Series B (B) 20,428 336,814Epiroc AB, A Shares 59,490 665,906Epiroc AB, B Shares 35,331 396,159Essity AB, B Shares (A) 54,770 1,814,014Hennes & Mauritz AB, B Shares (B) 72,726 1,106,056Hexagon AB, B Shares (A) 23,784 1,319,119Husqvarna AB, B Shares 37,691 279,507ICA Gruppen AB 8,033 378,337Industrivarden AB, C Shares (A)(B) 15,448 346,231Investor AB, B Shares 41,548 2,229,857Kinnevik AB, B Shares (B) 22,264 564,448L E Lundbergforetagen AB, B Shares (A) 7,040 351,239Lundin Energy AB (B) 16,567 404,208Sandvik AB (A) 102,150 1,707,701Securitas AB, B Shares (A) 28,331 378,246Skandinaviska Enskilda Banken AB, A

Shares (A) 146,190 1,272,154Skanska AB, B Shares (A) 30,615 615,449SKF AB, B Shares 34,519 638,195Svenska Handelsbanken AB, A

Shares (A) 138,999 1,312,987Swedbank AB, A Shares (A)(B) 80,594 1,012,158Swedish Match AB 15,260 1,065,042Tele2 AB, B Shares 44,838 594,099Telefonaktiebolaget LM Ericsson,

B Shares 277,384 2,540,102Telia Company AB 245,637 840,166Volvo AB, B Shares (A) 135,004 1,926,423

30,700,954Switzerland - 6.6%ABB, Ltd. 142,291 2,823,374Adecco Group AG 11,865 570,516Alcon, Inc. (A) 32,204 2,084,751Baloise Holding AG 4,066 581,826Barry Callebaut AG 227 457,843Chocoladefabriken Lindt &

Spruengli AG 8 697,617Chocoladefabriken Lindt & Spruengli

AG, Participation Certificates 82 686,915Cie Financiere Richemont SA (B) 40,310 2,369,411Clariant AG (A) 15,371 283,850Coca-Cola HBC AG 10,999 278,523Credit Suisse Group AG 201,493 1,851,819Dufry AG (A) 3,129 93,641EMS-Chemie Holding AG 614 456,216Geberit AG 2,827 1,383,225Givaudan SA 709 2,553,165Glencore PLC (A) 583,399 1,101,776Julius Baer Group, Ltd. 17,553 755,447Kuehne + Nagel International AG (A) 4,067 588,201



COMMON STOCKS (continued)Switzerland (continued)LafargeHolcim, Ltd. (A) 38,286 $ 1,596,355Lonza Group AG 5,754 2,841,444Nestle SA 230,224 24,997,044Novartis AG 166,244 14,472,533Pargesa Holding SA, Bearer Shares 2,852 216,595Partners Group Holding AG (B) 1,456 1,212,957Roche Holding AG 54,352 18,866,763Schindler Holding AG 1,434 334,860Schindler Holding AG,

Participation Certificates 3,193 745,970SGS SA 459 1,082,912Sika AG (B) 9,847 1,691,617Sonova Holding AG 4,242 935,190STMicroelectronics NV 23,376 580,542Straumann Holding AG 801 653,268Swiss Life Holding AG 2,759 977,952Swiss Prime Site AG 5,781 540,287Swiss Re AG 23,545 1,607,925Swisscom AG 1,965 1,022,589Temenos AG 5,023 772,055The Swatch Group AG 3,532 138,353The Swatch Group AG, Bearer

Shares (B) 2,312 466,402UBS Group AG 300,513 3,217,178Vifor Pharma AG 3,519 539,238Zurich Insurance Group AG 11,893 3,848,597

102,976,742Taiwan - 3.2%Accton Technology Corp. 38,000 306,302Acer, Inc. 221,000 120,544Advantech Company, Ltd. 26,699 264,913Airtac International Group 9,000 155,163ASE Technology Holding Company, Ltd. 265,000 545,344Asia Cement Corp. 168,000 244,103Asustek Computer, Inc. 54,000 379,132AU Optronics Corp. 642,000 162,871Catcher Technology Company, Ltd. 50,000 364,396Cathay Financial Holding Company, Ltd. 608,000 812,435Chailease Holding Company, Ltd. 90,954 354,516Chang Hwa Commercial Bank, Ltd. 420,854 264,297Cheng Shin Rubber Industry

Company, Ltd. 140,000 153,365Chicony Electronics Company, Ltd. 44,526 127,751China Airlines, Ltd. 160,000 43,767China Development Financial

Holding Corp. 1,046,000 317,617China Life Insurance Company, Ltd. 243,990 168,993China Steel Corp. 891,000 587,879Chunghwa Telecom Company, Ltd. 288,000 1,060,430Compal Electronics, Inc. 315,000 200,612CTBC Financial Holding Company, Ltd. 1,410,000 939,810Delta Electronics, Inc. 148,000 681,364E.Sun Financial Holding Company, Ltd. 792,776 705,983Eclat Textile Company, Ltd. 14,340 147,750Eva Airways Corp. 179,465 65,822Evergreen Marine Corp. Taiwan, Ltd. (A) 177,900 64,745Far Eastern New Century Corp. 245,000 219,876Far EasTone Telecommunications

Company, Ltd. 117,000 252,605Feng TAY Enterprise Company, Ltd. 25,100 151,790First Financial Holding Company, Ltd. 745,494 568,514Formosa Chemicals & Fibre Corp. 268,000 643,901Formosa Petrochemical Corp. 93,000 272,536


44



COMMON STOCKS (continued)Taiwan (continued)Formosa Plastics Corp. 342,000 $ 947,061Formosa Taffeta Company, Ltd. 64,000 72,976Foxconn Technology Company, Ltd. 71,000 127,850Fubon Financial Holding Company, Ltd. 517,000 731,617Giant Manufacturing Company, Ltd. 23,000 180,397Globalwafers Company, Ltd. 17,000 206,097Highwealth Construction Corp. 55,000 81,386Hiwin Technologies Corp. 17,696 181,519Hon Hai Precision Industry

Company, Ltd. 951,800 2,407,953Hotai Motor Company, Ltd. 23,000 412,528Hua Nan Financial Holdings

Company, Ltd. 583,048 378,818Innolux Corp. 618,000 128,357Inventec Corp. 189,000 153,699Largan Precision Company, Ltd. 8,000 1,024,853Lite-On Technology Corp. 161,000 258,375MediaTek, Inc. 115,000 1,775,548Mega Financial Holding Company, Ltd. 822,000 844,510Micro-Star International Company, Ltd. 51,000 172,074Nan Ya Plastics Corp. 393,000 825,172Nanya Technology Corp. 94,000 188,119Nien Made Enterprise Company, Ltd. 12,000 103,123Novatek Microelectronics Corp. 44,000 301,271Pegatron Corp. 150,000 322,855Phison Electronics Corp. 12,000 110,603Pou Chen Corp. 174,000 171,593Powertech Technology, Inc. 58,000 187,842President Chain Store Corp. 43,000 423,664Quanta Computer, Inc. 205,000 478,883Realtek Semiconductor Corp. 37,000 319,593Ruentex Development Company, Ltd. 43,560 66,487Ruentex Industries, Ltd. 26,000 56,638Shin Kong Financial Holding

Company, Ltd. 888,988 247,568SinoPac Financial Holdings

Company, Ltd. 810,601 319,551Standard Foods Corp. 31,600 66,871Synnex Technology International Corp. 101,000 149,541Taishin Financial Holding Company, Ltd. 707,437 307,138Taiwan Business Bank 386,516 136,706Taiwan Cement Corp. 374,936 532,297Taiwan Cooperative Financial Holding

Company, Ltd. 667,680 454,893Taiwan High Speed Rail Corp. 143,000 179,659Taiwan Mobile Company, Ltd. 121,000 432,975Taiwan Semiconductor Manufacturing

Company, Ltd. 1,875,816 18,235,323Tatung Company, Ltd. (A) 141,000 97,554The Shanghai Commercial & Savings

Bank, Ltd. 252,000 360,321Uni-President Enterprises Corp. 366,000 888,371United Microelectronics Corp. 853,000 440,287Vanguard International

Semiconductor Corp. 68,000 167,337Walsin Technology Corp. 24,000 149,994Win Semiconductors Corp. 26,000 224,406Winbond Electronics Corp. 228,000 104,974Wistron Corp. 220,040 209,783Wiwynn Corp. 6,000 160,779WPG Holdings, Ltd. 110,960 145,261Yageo Corp. 19,556 242,687Yuanta Financial Holding Company, Ltd. 762,000 413,493



COMMON STOCKS (continued)Taiwan (continued)Zhen Ding Technology Holding, Ltd. 42,000 $ 167,856

49,826,212Thailand - 0.5%Advanced Info Service PCL, NVDR 75,300 455,852Airports of Thailand PCL, NVDR 271,000 529,669B. Grimm Power PCL, NVDR 48,100 79,878Bangkok Bank PCL, NVDR 31,200 107,334Bangkok Dusit Medical Services

PCL, NVDR 603,400 426,816Bangkok Expressway & Metro

PCL, NVDR 484,400 150,427Banpu PCL, NVDR 259,800 51,111Berli Jucker PCL, NVDR 74,600 99,809BTS Group Holdings PCL, NVDR 443,500 168,935Bumrungrad Hospital PCL, NVDR 27,000 101,945Central Pattana PCL, NVDR 145,700 226,789Central Retail Corp. PCL, NVDR (A) 114,958 139,775Charoen Pokphand Foods PCL, NVDR 249,600 247,822CP ALL PCL, NVDR 367,300 815,736Electricity Generating PCL, NVDR 18,700 162,587Energy Absolute PCL, NVDR 104,300 128,116Global Power Synergy PCL, NVDR 44,200 105,006Gulf Energy Development PCL, NVDR 168,200 199,752Home Product Center PCL, NVDR 370,400 173,141Indorama Ventures PCL, NVDR 108,000 97,115Intouch Holdings PCL, NVDR 142,500 241,407IRPC PCL, NVDR 658,700 56,121Kasikornbank PCL, NVDR 114,400 346,888Krung Thai Bank PCL, NVDR 233,800 76,667Land & Houses PCL, NVDR 537,200 123,655Minor International PCL, NVDR (A) 176,400 103,295Muangthai Capital PCL, NVDR 39,400 69,330Osotspa PCL, NVDR 46,700 62,596PTT Exploration & Production

PCL, NVDR 88,400 234,558PTT Global Chemical PCL, NVDR 144,400 195,759PTT PCL, NVDR 724,100 810,300Ratch Group PCL, NVDR 46,200 101,754Srisawad Corp. PCL, NVDR (A) 46,600 83,756Thai Oil PCL, NVDR 68,300 92,769Thai Union Group PCL, NVDR 212,300 91,536The Siam Cement PCL, NVDR 49,700 536,965The Siam Commercial Bank

PCL, NVDR 55,600 129,875TMB Bank PCL, NVDR 1,525,200 55,378Total Access Communication

PCL, NVDR 44,500 62,061True Corp. PCL, NVDR 712,100 82,677

8,024,962Turkey - 0.1%Akbank T.A.S. (A) 112,011 93,746Anadolu Efes Biracilik Ve Malt Sanayii

AS (A) 8,650 23,515Arcelik AS (A) 7,510 17,384Aselsan Elektronik Sanayi Ve Ticaret AS 14,271 63,199BIM Birlesik Magazalar AS 16,378 156,165Eregli Demir ve Celik Fabrikalari TAS 55,218 65,110Ford Otomotiv Sanayi AS 2,532 22,999Haci Omer Sabanci Holding AS 38,565 46,891KOC Holding AS 30,037 71,018TAV Havalimanlari Holding AS 7,583 22,634Tupras Turkiye Petrol Rafinerileri AS (A) 4,806 60,453Turk Hava Yollari AO (A) 23,894 43,950


45



COMMON STOCKS (continued)Turkey (continued)Turkcell Iletisim Hizmetleri AS 44,587 $ 92,640Turkiye Garanti Bankasi AS (A) 93,232 106,920Turkiye Is Bankasi AS, Class C (A) 74,265 54,082

940,706United Arab Emirates - 0.0%NMC Health PLC 5,577 2,013United Kingdom - 6.3%3i Group PLC 55,077 563,626Admiral Group PLC 11,033 318,681Anglo American PLC 56,621 1,198,607Ashtead Group PLC 25,337 756,617Associated British Foods PLC 19,727 446,184AstraZeneca PLC 71,675 7,719,351Auto Trader Group PLC (C) 52,082 362,011AVEVA Group PLC 3,551 180,418Aviva PLC 274,042 845,289BAE Systems PLC 176,310 1,088,151Barclays PLC 940,557 1,344,567Barratt Developments PLC 56,874 351,799BP PLC 1,108,031 4,237,028British American Tobacco PLC 125,506 4,977,602BT Group PLC 461,472 664,390Bunzl PLC 18,323 428,822Burberry Group PLC 22,577 421,588Centrica PLC 312,619 141,828CNH Industrial NV (A) 63,724 388,905Coca-Cola European Partners PLC 23,237 876,035Compass Group PLC 86,866 1,273,398Croda International PLC 7,082 455,631Diageo PLC 128,394 4,479,634Direct Line Insurance Group PLC 84,944 278,247easyJet PLC 9,184 78,035Ferguson PLC 12,456 982,377Fiat Chrysler Automobiles NV (A) 69,645 621,617G4S PLC 87,043 97,433GlaxoSmithKline PLC 272,633 5,646,952Halma PLC 20,976 608,718Hargreaves Lansdown PLC 18,697 426,042HSBC Holdings PLC 1,110,560 5,114,471Imperial Brands PLC 51,970 947,939Informa PLC 68,352 391,553InterContinental Hotels Group PLC 9,544 458,053Intertek Group PLC 8,848 605,534ITV PLC 200,336 199,771J Sainsbury PLC 98,387 235,915JD Sports Fashion PLC 24,061 197,261Johnson Matthey PLC 10,796 284,650Kingfisher PLC 117,905 286,153Land Securities Group PLC 38,304 288,049Legal & General Group PLC 351,843 868,674Lloyds Banking Group PLC 3,848,251 1,419,243London Stock Exchange Group PLC 17,279 1,723,452M&G PLC 142,802 248,533Marks & Spencer Group PLC 107,825 130,920Meggitt PLC 45,478 157,199Melrose Industries PLC 267,174 385,173Micro Focus International PLC 18,741 92,321Mondi PLC 27,083 509,574National Grid PLC 190,258 2,189,017Next PLC 7,291 440,930Ocado Group PLC (A) 24,775 673,813Pearson PLC 43,094 246,455Persimmon PLC 17,643 503,246



COMMON STOCKS (continued)United Kingdom (continued)Prudential PLC 145,624 $ 1,888,635Reckitt Benckiser Group PLC 38,782 3,473,556RELX PLC 105,926 2,465,471Rentokil Initial PLC 101,499 627,724Rio Tinto PLC 61,553 3,338,278Rio Tinto, Ltd. 29,841 1,863,848Rolls-Royce Holdings PLC (A) 95,183 324,426RSA Insurance Group PLC 66,989 328,066Schroders PLC 7,464 274,645Segro PLC 59,850 621,931Severn Trent PLC 12,947 392,040Smith & Nephew PLC 47,868 976,577Smiths Group PLC 21,726 354,234Spirax-Sarco Engineering PLC 4,031 494,729SSE PLC 56,626 870,345St. James’s Place PLC 32,210 367,398Standard Chartered PLC 147,980 675,085Standard Life Aberdeen PLC 137,684 442,171Taylor Wimpey PLC 183,116 328,010Tesco PLC 537,304 1,525,672The Berkeley Group Holdings PLC 6,638 338,150The British Land Company PLC 48,036 243,468The Royal Bank of Scotland Group PLC 272,383 372,584The Sage Group PLC 59,488 510,117The Weir Group PLC 14,252 172,031Unilever NV 148,819 7,690,658Unilever PLC 60,737 3,261,175United Utilities Group PLC 37,187 423,345Vodafone Group PLC 1,467,571 2,413,410Whitbread PLC 7,354 230,646Wm Morrison Supermarkets PLC 134,782 312,700WPP PLC 70,017 532,860

98,991,467United States - 0.3%Barrick Gold Corp. (A) 186,614 4,487,627Bausch Health Companies, Inc. (A) 33,860 623,662Carnival PLC 9,396 124,087International Flavors & Fragrances, Inc. 1 120Nexteer Automotive Group, Ltd. 72,873 40,017Ovintiv, Inc. 27,681 208,686

5,484,199TOTAL COMMON STOCKS (Cost $1,473,896,737) $ 1,428,662,895

PREFERRED SECURITIES - 1.0%Brazil - 0.3%Banco Bradesco SA 276,493 981,868Braskem SA, A Shares 11,700 60,821Centrais Eletricas Brasileiras SA,

B Shares 16,000 92,049Cia Energetica de Minas Gerais 57,100 115,563Gerdau SA 68,100 171,389Itau Unibanco Holding SA 300,400 1,297,007Itausa - Investimentos Itau SA 272,460 452,373Lojas Americanas SA 46,600 246,697Petroleo Brasileiro SA 262,400 1,000,172Telefonica Brasil SA 27,800 245,581

4,663,520Chile - 0.0%Embotelladora Andina SA, B Shares 33,391 80,140Sociedad Quimica y Minera de Chile

SA, B Shares 10,688 262,379342,519


46



PREFERRED SECURITIES (continued)Colombia - 0.0%Bancolombia SA 41,190 $ 271,655Grupo Aval Acciones y Valores SA 362,282 81,683

353,338Germany - 0.4%Bayerische Motoren Werke AG 4,957 228,892FUCHS PETROLUB SE 6,054 242,359Henkel AG & Company KGaA 15,888 1,420,933Porsche Automobil Holding SE 13,956 767,245Sartorius AG 3,168 1,181,000Volkswagen AG 16,694 2,471,884

6,312,313South Korea - 0.3%Amorepacific Corp. 1,102 51,540Hyundai Motor Company 2,902 132,474Hyundai Motor Company, 2nd Preferred 4,491 219,189LG Chem, Ltd. 962 138,095LG Household & Health Care, Ltd. 252 145,983Samsung Electronics Company, Ltd. 100,953 3,514,809

4,202,090TOTAL PREFERRED SECURITIES (Cost $18,003,084) $ 15,873,780

EXCHANGE-TRADED FUNDS - 3.7%iShares MSCI India ETF (B) 1,225,571 33,690,947KraneShares Bosera MSCI China A ETF 469,149 14,501,396VanEck Vectors Russia ETF 231,776 4,779,221Xtrackers Harvest CSI 300 China

A-Shares ETF (B) 177,505 4,833,461TOTAL EXCHANGE-TRADED FUNDS (Cost $58,266,292) $ 57,805,025

RIGHTS - 0.0%Whitbread PLC (Expiration

Date: 6-10-20; Strike Price: GBP15.00) (A) 3,677 45,502

TOTAL RIGHTS (Cost $65,950) $ 45,502

WARRANTS - 0.0%BTS Group Holdings PCL (Expiration

Date: 2-16-21; Strike Price: THB14.00) (A) 33,620 1,416

BTS Group Holdings PCL (ExpirationDate: 2-16-21; Strike Price: THB14.00) (A) 1,820 77

Minor International PCL (ExpirationDate: 10-1-21; Strike Price: THB48.00) (A) 1,000 54

TOTAL WARRANTS (Cost $0) $ 1,547

SHORT-TERM INVESTMENTS - 7.6%U.S. Government Agency - 3.2%Federal Home Loan Bank Discount Note

0.030%, 09/01/2020 * $ 12,700,000 $ 12,694,8070.040%, 07/27/2020 * 2,000,000 1,999,5960.080%, 07/24/2020 * 2,000,000 1,999,6170.095%, 07/14/2020 * 4,400,000 4,399,3170.100%, 07/23/2020 * 1,500,000 1,499,7180.115%, 08/07/2020 * 2,000,000 1,999,4420.120%, 08/17/2020 * 14,900,000 14,895,2200.122%, 08/14/2020 * 4,000,000 3,998,7670.130%, 07/28/2020 * 1,200,000 1,199,7530.145%, 08/28/2020 * 2,000,000 1,999,267



SHORT-TERM INVESTMENTS (continued)U.S. Government Agency (continued)Federal National Mortgage Association

Discount Note0.105%, 07/29/2020 * $ 3,000,000 $ 2,999,372

49,684,876Short-term funds - 4.4%John Hancock Collateral Trust,

0.3653% (E)(F) 6,959,586 69,677,291TOTAL SHORT-TERM INVESTMENTS (Cost $119,301,156) $ 119,362,167Total Investments (International Strategic Equity Allocation

Fund)(Cost $1,669,533,219) - 103.4% $ 1,621,750,916

Other assets and liabilities, net - (3.4%) (53,082,182)TOTAL NET ASSETS - 100.0% $ 1,568,668,734

Currency AbbreviationsGBP Pound SterlingTHB Thai BhatSecurity Abbreviations and LegendADR American Depositary ReceiptNVDR Non-Voting Depositary Receipt(A) Non-income producing security.(B) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $66,271,139.(C) These securities are exempt from registration under Rule 144A of


(D) Security is valued using significant unobservable inputs and isclassified as Level 3 in the fair value hierarchy.

(E) The rate shown is the annualized seven-day yield as of 5-31-20.(F) Investment is an affiliate of the fund, the advisor and/or subadvisor.


* Yield represents either the annualized yield at the date of purchase,the stated coupon rate or, for floating rate securities, the rate atperiod end.


47

International Strategic Equity Allocation Fund (continued)DERIVATIVES

FUTURES



dateNotional

basis^Notional

value^


(depreciation)Canadian Dollar Currency Futures 76 Long Jun 2020 $5,413,992 $5,518,360 $104,368Mini MSCI EAFE Index Futures 536 Long Jun 2020 39,611,353 46,216,600 6,605,247Mini MSCI Emerging Markets Index Futures 377 Long Jun 2020 16,011,126 17,564,430 1,553,304S&P/TSX 60 Index Futures 37 Long Jun 2020 4,125,256 4,874,750 749,494

$9,012,413


International Value FundShares orPrincipalAmount Value

COMMON STOCKS - 96.4%Australia - 0.5%Orica, Ltd. 92,076 $ 1,057,443Bermuda - 1.1%Everest Re Group, Ltd. 11,139 2,210,089Canada - 3.5%Barrick Gold Corp. 137,592 3,308,764Yamana Gold, Inc. 759,939 4,073,273

7,382,037China - 0.4%Topsports International

Holdings, Ltd. (A) 607,000 868,312Czech Republic - 0.3%Avast PLC (A) 100,482 626,856Denmark - 1.5%Novo Nordisk A/S, B Shares 49,283 3,228,267Finland - 1.6%Sampo OYJ, A Shares 93,503 3,359,610France - 13.5%AXA SA 154,240 2,830,137BNP Paribas SA (B) 91,056 3,276,689Capgemini SE 42,993 4,440,946Danone SA 22,736 1,564,248Eiffage SA (B) 35,727 3,261,351Peugeot SA (B)(C) 84,252 1,209,472Rexel SA 76,995 784,978Sanofi 40,431 3,954,752TOTAL SA 112,686 4,273,144Vinci SA 27,427 2,558,808

28,154,525Germany - 6.2%Allianz SE 19,663 3,563,647Bayer AG 21,866 1,494,751Brenntag AG 33,483 1,781,411Rheinmetall AG 18,615 1,516,106SAP SE 10,410 1,328,549Siemens AG 30,442 3,356,376

13,040,840Greece - 0.8%Hellenic Telecommunications

Organization SA 116,308 1,628,423Hong Kong - 1.5%China Overseas Land & Investment, Ltd. 399,000 1,223,645CK Asset Holdings, Ltd. 181,000 994,153WH Group, Ltd. (A) 1,077,000 936,931

3,154,729Hungary - 0.8%OTP Bank NYRT (B) 50,695 1,704,106

International Value Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)India - 0.6%HDFC Bank, Ltd., ADR 28,631 $ 1,197,635Indonesia - 0.9%Bank Rakyat Indonesia Persero Tbk PT 9,414,000 1,906,191Ireland - 1.3%CRH PLC 83,502 2,722,424Italy - 1.6%Enel SpA 253,494 1,959,947Leonardo SpA 237,983 1,494,019

3,453,966Japan - 22.3%Bandai Namco Holdings, Inc. 27,200 1,512,231Fuji Corp. 84,400 1,566,315Hitachi Construction Machinery

Company, Ltd. 38,300 1,010,314Hitachi, Ltd. 162,900 5,261,544Kamigumi Company, Ltd. 48,100 942,690KDDI Corp. 125,100 3,651,569Kinden Corp. 65,200 1,092,280Koito Manufacturing Company, Ltd. 31,800 1,352,574Kurita Water Industries, Ltd. 36,300 1,005,065NEC Corp. 55,000 2,472,925Nintendo Company, Ltd. 2,400 975,789Nippon Telegraph & Telephone Corp. 96,800 2,203,283Persol Holdings Company, Ltd. 76,800 1,014,976Rengo Company, Ltd. 104,600 826,481Ricoh Company, Ltd. 108,000 800,513Sankyu, Inc. 36,900 1,506,203Sanwa Holdings Corp. 260,600 2,239,261Seven & i Holdings Company, Ltd. 45,100 1,546,980SoftBank Group Corp. 18,300 835,867Sony Corp. 70,300 4,553,041Sumitomo Mitsui Financial Group, Inc. 73,500 2,133,141Taiheiyo Cement Corp. 65,700 1,557,222Taisei Corp. 46,900 1,629,198Taiyo Yuden Company, Ltd. 55,300 1,548,242TS Tech Company, Ltd. 38,700 1,094,802Zenkoku Hosho Company, Ltd. 58,100 2,244,441

46,576,947Macau - 0.5%Wynn Macau, Ltd. 579,600 992,730Netherlands - 4.7%ING Groep NV 368,599 2,396,485Koninklijke Ahold Delhaize NV 113,465 2,876,783Koninklijke KPN NV 636,209 1,555,130NXP Semiconductors NV 12,601 1,210,956Royal Dutch Shell PLC, A Shares 108,847 1,722,829

9,762,183


48


COMMON STOCKS (continued)Norway - 0.9%DNB ASA 140,267 $ 1,914,343Singapore - 1.0%DBS Group Holdings, Ltd. 72,100 997,467United Overseas Bank, Ltd. 72,400 1,002,775

2,000,242South Korea - 4.7%GS Retail Company, Ltd. 22,789 785,346Hana Financial Group, Inc. 84,799 2,048,888KB Financial Group, Inc. 65,586 1,789,914KT Corp., ADR (C) 208,059 2,026,495Samsung Electronics Company, Ltd. 75,711 3,118,239

9,768,882Spain - 1.2%Amadeus IT Group SA 24,161 1,263,413Applus Services SA 156,718 1,241,142

2,504,555Sweden - 1.3%Husqvarna AB, B Shares 231,515 1,716,857Loomis AB, B Shares (B) 36,617 925,859

2,642,716Switzerland - 8.3%Glencore PLC (B) 816,199 1,541,430Novartis AG 71,862 6,256,016Roche Holding AG 13,540 4,700,029SIG Combibloc Group AG (B) 47,651 801,960STMicroelectronics NV 52,112 1,294,199UBS Group AG 267,405 2,862,736

17,456,370Taiwan - 0.3%Simplo Technology Company, Ltd. 67,000 717,816United Kingdom - 14.3%Aviva PLC 510,917 1,575,936BAE Systems PLC 408,501 2,521,188BP PLC 560,053 2,141,601Coca-Cola European Partners PLC 44,283 1,669,469Direct Line Insurance Group PLC 599,815 1,964,786GlaxoSmithKline PLC 100,029 2,071,866Howden Joinery Group PLC 112,374 824,269Imperial Brands PLC 126,855 2,313,849Inchcape PLC 130,234 809,684Next PLC 16,840 1,018,415Nomad Foods, Ltd. (B) 147,180 3,117,272Persimmon PLC 71,551 2,040,909Redrow PLC 227,059 1,321,388Smith & Nephew PLC 38,976 795,167Tesco PLC 1,062,074 3,015,753Unilever PLC 48,645 2,611,915

29,813,467United States - 0.8%Applied Materials, Inc. 29,854 1,677,196TOTAL COMMON STOCKS (Cost $211,643,172) $ 201,522,900


SHORT-TERM INVESTMENTS - 4.6%Short-term funds - 4.6%Fidelity Institutional Money Market

Government Portfolio, InstitutionalClass, 0.0829% (D) 4,741,026 $ 4,741,026

John Hancock Collateral Trust,0.3653% (D)(E) 476,672 4,772,300

TOTAL SHORT-TERM INVESTMENTS (Cost $9,513,337) $ 9,513,326Total Investments (International Value Fund)


Security Abbreviations and LegendADR American Depositary Receipt(A) These securities are exempt from registration under Rule 144A of


(B) Non-income producing security.(C) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $181,577. The fund had pending$4,366,753 market value of securities on loan that settled subsequentto period end.



Mid Cap Stock FundShares orPrincipalAmount Value

COMMON STOCKS – 89.3%Communication services – 5.5%Entertainment – 4.9%Live Nation Entertainment, Inc. (A)(B) 75,772 $ 3,724,952Roku, Inc. (A)(B) 147,744 16,179,445Spotify Technology SA (A) 344,152 62,267,421

82,171,818Interactive media and services – 0.6%Match Group, Inc. (A)(B) 124,257 11,063,843

93,235,661Consumer discretionary – 17.0%Automobiles – 0.6%Thor Industries, Inc. (B) 112,363 9,685,691Diversified consumer services – 1.9%Chegg, Inc. (A)(B) 529,412 32,336,485Hotels, restaurants and leisure – 5.4%Aramark (B) 856,948 22,186,384DraftKings, Inc. (A)(C) 819,041 30,554,073Planet Fitness, Inc., Class A (A)(B) 365,432 23,617,870Vail Resorts, Inc. 71,170 14,115,146

90,473,473Household durables – 1.0%Lennar Corp., A Shares 292,021 17,655,590Leisure products – 2.1%Peloton Interactive, Inc., Class A (A)(B) 594,663 25,088,832Polaris, Inc. 120,600 10,533,204

35,622,036Specialty retail – 6.0%Burlington Stores, Inc. (A)(B) 233,730 49,006,169Five Below, Inc. (A)(B) 280,669 29,372,011


49

Mid Cap Stock Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Specialty retail (continued)Floor & Decor Holdings, Inc.,

Class A (A) 416,146 $ 21,639,592JAND, Inc., Class A (A)(C)(D) 57,523 1,121,302

101,139,074286,912,349

Consumer staples – 4.3%Beverages – 4.3%Monster Beverage Corp. (A)(B) 598,112 43,010,234The Boston Beer Company, Inc.,

Class A (A)(B) 52,702 29,762,40072,772,634

Financials – 1.1%Capital markets – 1.1%The Blackstone Group, Inc., Class A 321,754 18,275,627Health care – 22.6%Biotechnology – 6.6%Apellis Pharmaceuticals, Inc. (A) 202,618 6,826,200Argenx SE, ADR (A)(B) 53,848 11,808,866Ascendis Pharma A/S, ADR (A) 51,994 7,564,607Exact Sciences Corp. (A)(B) 503,930 43,277,508Galapagos NV (A) 98,418 19,965,913Galapagos NV, ADR (A)(B) 9,593 1,945,269Kodiak Sciences, Inc. (A)(B) 67,479 4,359,818Seattle Genetics, Inc. (A) 100,300 15,768,163

111,516,344Health care equipment and supplies – 11.0%ABIOMED, Inc. (A)(B) 160,817 36,006,926DexCom, Inc. (A)(B) 134,709 50,961,762Insulet Corp. (A)(B) 247,367 46,645,995Novocure, Ltd. (A) 100,345 6,766,263Tandem Diabetes Care, Inc. (A) 541,096 44,992,132

185,373,078Health care technology – 2.6%Livongo Health, Inc. (A)(B) 345,513 20,706,594Veeva Systems, Inc., Class A (A) 105,760 23,147,691

43,854,285Life sciences tools and services – 1.0%Agilent Technologies, Inc. 197,260 17,386,496Pharmaceuticals – 1.4%Elanco Animal Health, Inc. (A) 826,975 17,705,535Reata Pharmaceuticals, Inc.,

Class A (A)(B) 40,829 5,933,27023,638,805

381,769,008Industrials – 6.5%Building products – 1.9%Trane Technologies PLC 361,531 32,613,712Commercial services and supplies – 1.5%Copart, Inc. (A) 287,973 25,741,906Professional services – 3.1%CoStar Group, Inc. (A) 78,350 51,460,280

109,815,898Information technology – 32.3%IT services – 7.1%GoDaddy, Inc., Class A (A) 424,071 32,759,485Leidos Holdings, Inc. 221,997 23,374,064Square, Inc., Class A (A) 793,790 64,360,493

120,494,042


COMMON STOCKS (continued)Semiconductors and semiconductor equipment – 5.9%Advanced Micro Devices, Inc. (A) 1,294,668 $ 69,653,142Marvell Technology Group, Ltd. 890,927 29,062,039

98,715,181Software – 19.3%2U, Inc. (A)(B) 501,554 18,291,674Alteryx, Inc., Class A (A)(B) 131,261 18,893,708Fair Isaac Corp. (A) 67,115 27,023,855Guidewire Software, Inc. (A)(B) 461,669 47,358,006Paycom Software, Inc. (A) 10,100 3,002,023RingCentral, Inc., Class A (A) 49,282 13,515,589Slack Technologies, Inc., Class A (A)(B) 1,270,909 44,545,360Splunk, Inc. (A) 411,367 76,448,443The Trade Desk, Inc., Class A (A)(B) 30,329 9,449,303Workday, Inc., Class A (A) 278,604 51,104,332Zoom Video Communications, Inc.,

Class A (A)(B) 94,668 16,991,013326,623,306545,832,529

TOTAL COMMON STOCKS (Cost $1,037,792,634) $ 1,508,613,706

PREFERRED SECURITIES – 2.4%Consumer discretionary – 1.1%Diversified consumer services – 0.3%The Honest Company, Inc.,

Series C (A)(C)(D) 142,030 4,611,714The Honest Company, Inc.,

Series D (A)(C)(D) 12,795 491,0725,102,786

Internet and direct marketing retail – 0.6%Coupang LLC (A)(C)(D) 1,381,449 10,830,560One Kings Lane, Inc. (A)(D) 529,764 84,762

10,915,322Specialty retail – 0.2%JAND, Inc., Series D (A)(C)(D) 128,449 2,503,869

18,521,977Information technology – 1.1%Software – 1.1%Essence Group Holdings Corp. (A)(C)(D) 2,958,957 9,587,021Lookout, Inc., Series F (A)(C)(D) 392,767 2,769,007MarkLogic Corp., Series F (A)(C)(D) 580,011 6,414,922

18,770,950Real estate – 0.2%Real estate management and development – 0.2%The We Company, Inc.,

Series D1 (A)(C)(D) 184,328 1,292,139The We Company, Inc.,

Series D2 (A)(C)(D) 161,782 1,134,0922,426,231

TOTAL PREFERRED SECURITIES (Cost $32,776,728) $ 39,719,158

EXCHANGE-TRADED FUNDS – 4.5%iShares Russell Mid-Cap Growth

ETF (B) 496,935 76,836,090TOTAL EXCHANGE-TRADED FUNDS (Cost $60,926,089) $ 76,836,090

WARRANTS – 0.0%DraftKings, Inc. (Expiration

Date: 4-25-23) (A)(C)(E) 4,973 129,874TOTAL WARRANTS (Cost $13,933) $ 129,874


50



0.3653% (F)(G) 19,614,588 $ 196,375,375Repurchase agreement – 2.6%Societe Generale SA Tri-Party

Repurchase Agreement dated 5-29-20at 0.050% to be repurchased at$44,200,184 on 6-1-20, collateralizedby $3,033,481 Federal Home LoanMortgage Corp., 4.000% - 5.950% due7-15-20 to 7-1-47 (valued at$3,338,892), $2,409,150 FederalNational Mortgage Association,2.234% - 4.500% due 11-1-26 to2-1-57 (valued at $2,681,019), $106Government National MortgageAssociation, 3.125% due 12-20-26(valued at $107), $100 U.S. TreasuryBills, 0.000% due 3-25-21 (valued at$100), $18,662,500 U.S. TreasuryBonds, 5.000% - 8.125% due 5-15-21to 5-15-37 (valued at $30,459,483)and $7,979,300 U.S. Treasury Notes,1.500% - 2.375% due 3-31-22 to4-30-26 (valued at $8,604,399) $ 44,200,000 44,200,000

TOTAL SHORT-TERM INVESTMENTS (Cost $240,454,618) $ 240,575,375Total Investments (Mid Cap Stock Fund)


Security Abbreviations and LegendADR American Depositary Receipt(A) Non-income producing security.(B) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $187,451,295.(C) Restricted security as to resale, excluding 144A securities. For more



(E) Strike price and/or expiration date not available.(F) The rate shown is the annualized seven-day yield as of 5-31-20.(G) Investment is an affiliate of the fund, the advisor and/or subadvisor.


Mid Value FundShares orPrincipalAmount Value

COMMON STOCKS – 98.5%Communication services – 5.2%Media – 4.8%AMC Networks, Inc., Class A (A)(B) 116,475 $ 3,292,748DISH Network Corp., Class A (A) 193,851 6,135,384Fox Corp., Class A 133,058 3,881,302News Corp., Class A 2,098,148 25,702,313Scholastic Corp. 164,789 4,844,797ViacomCBS, Inc., Class B (B) 613,768 12,729,548

56,586,092Wireless telecommunication services – 0.4%Telephone & Data Systems, Inc. 226,025 4,631,252

61,217,344

Mid Value Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Consumer discretionary – 3.1%Diversified consumer services – 1.5%Strategic Education, Inc. 100,795 $ 17,097,856Hotels, restaurants and leisure – 0.4%Compass Group PLC 303,839 4,454,094Multiline retail – 0.4%Nordstrom, Inc. (B) 260,183 4,196,752Specialty retail – 0.1%Tiffany & Company 14,181 1,817,012Textiles, apparel and luxury goods – 0.7%Ralph Lauren Corp. 111,671 8,432,277

35,997,991Consumer staples – 9.3%Beverages – 1.0%Carlsberg A/S, Class B 69,582 9,018,757Molson Coors Beverage Company,

Class B 48,757 1,850,81610,869,573

Food and staples retailing – 1.8%Sysco Corp. (B) 310,803 17,143,893The Kroger Company 130,351 4,252,050

21,395,943Food products – 6.5%Archer-Daniels-Midland Company (B) 114,307 4,493,408Bunge, Ltd. 738,226 28,805,579Campbell Soup Company (B) 121,702 6,204,368Flowers Foods, Inc. 1,180,482 27,847,570The Kraft Heinz Company 294,361 8,969,180

76,320,105108,585,621

Energy – 11.9%Energy equipment and services – 1.3%Frank’s International NV (A) 1,516,406 3,411,914Schlumberger, Ltd. 382,498 7,064,738SEACOR Holdings, Inc. (A) 107,248 2,874,246SEACOR Marine Holdings, Inc. (A)(B) 195,011 302,267Tidewater, Inc. (A)(B) 480,379 2,291,408

15,944,573Oil, gas and consumable fuels – 10.6%Apache Corp. (B) 173,743 1,874,687Cameco Corp. 1,383,853 15,042,482Canadian Natural Resources, Ltd. (B) 779,360 14,106,416EQT Corp. (B) 2,064,469 27,540,016Equinor ASA 325,608 4,748,548Equitrans Midstream Corp. (B) 969,660 7,844,549Hess Corp. 261,308 12,404,291Imperial Oil, Ltd. (B) 1,552,225 24,245,755NAC Kazatomprom JSC, GDR 335,343 4,906,035NAC Kazatomprom JSC, GDR (London

Stock Exchange) 21,217 310,403Ovintiv, Inc. (B) 1,150,382 8,846,438Peabody Energy Corp. (B) 631,797 1,990,161

123,859,781139,804,354

Financials – 16.7%Banks – 2.7%Fifth Third Bancorp 852,992 16,539,515Popular, Inc. 52,741 2,082,742Westamerica Bancorporation 226,565 13,362,804

31,985,061


51


COMMON STOCKS (continued)Capital markets – 5.6%Lazard, Ltd., Class A 571,354 $ 15,346,568Northern Trust Corp. 230,868 18,240,881State Street Corp. 421,502 25,694,762TD Ameritrade Holding Corp. 149,297 5,564,299The Bank of New York Mellon Corp. 33,504 1,245,344

66,091,854Consumer finance – 0.6%Ally Financial, Inc. (B) 305,448 5,327,013Synchrony Financial 85,225 1,736,033

7,063,046Diversified financial services – 1.1%Groupe Bruxelles Lambert SA 29,015 2,354,918Pargesa Holding SA, Bearer Shares 140,235 10,650,125

13,005,043Insurance – 6.0%Brighthouse Financial, Inc. (A) 286,521 8,512,539Brown & Brown, Inc. 368,443 14,811,409CNA Financial Corp. 387,702 11,720,231Kemper Corp. 140,297 8,894,830Loews Corp. 507,226 16,860,192Marsh & McLennan Companies, Inc. 84,655 8,966,658

69,765,859Thrifts and mortgage finance – 0.7%Capitol Federal Financial, Inc. 713,686 8,367,968

196,278,831Health care – 17.3%Biotechnology – 1.3%Alkermes PLC (A) 502,911 8,227,624Incyte Corp. (A) 69,899 7,123,407

15,351,031Health care equipment and supplies – 6.7%Alcon, Inc. (A) 50,555 3,272,716Baxter International, Inc. 155,531 13,999,345Dentsply Sirona, Inc. 394,213 18,338,789Hologic, Inc. (A) 452,018 23,956,954Zimmer Biomet Holdings, Inc. 148,069 18,707,037

78,274,841Health care providers and services – 6.5%Cardinal Health, Inc. 531,703 29,078,836Covetrus, Inc. (A)(B) 511,083 7,809,348Patterson Companies, Inc. (B) 1,004,037 19,769,489Select Medical Holdings Corp. (A) 1,231,035 19,868,905

76,526,578Pharmaceuticals – 2.8%Jazz Pharmaceuticals PLC (A) 37,075 4,423,789Perrigo Company PLC 509,360 27,897,647

32,321,436202,473,886

Industrials – 9.1%Aerospace and defense – 1.6%Textron, Inc. 596,311 18,467,752Air freight and logistics – 2.1%C.H. Robinson Worldwide, Inc. (B) 206,682 16,768,111Expeditors International of

Washington, Inc. 101,955 7,786,30324,554,414

Airlines – 0.9%Southwest Airlines Company 335,775 10,778,378Commercial services and supplies – 0.5%Cintas Corp. 27,024 6,700,871


COMMON STOCKS (continued)Machinery – 2.7%AGCO Corp. (B) 114,671 $ 6,333,279CNH Industrial NV (A)(B) 595,594 3,634,885PACCAR, Inc. 181,725 13,422,209Wabtec Corp. 11,378 694,854Xylem, Inc. 111,579 7,402,151

31,487,378Road and rail – 1.3%J.B. Hunt Transport Services, Inc. (B) 82,693 9,895,871Kansas City Southern 15,364 2,312,589Ryder System, Inc. 89,601 3,069,730

15,278,190107,266,983

Information technology – 3.1%Electronic equipment, instruments and components – 1.1%National Instruments Corp. 337,659 13,074,156IT services – 0.6%Cognizant Technology Solutions Corp.,

Class A (B) 130,229 6,902,137Semiconductors and semiconductor equipment – 1.4%Applied Materials, Inc. 282,458 15,868,490

35,844,783Materials – 11.5%Chemicals – 2.4%Corteva, Inc. 499,387 13,638,259PPG Industries, Inc. 60,815 6,183,061Westlake Chemical Corp. (B) 185,133 8,830,844

28,652,164Construction materials – 1.0%Summit Materials, Inc., Class A (A)(B) 316,627 4,809,564Vulcan Materials Company 66,110 7,161,035

11,970,599Metals and mining – 8.1%Barrick Gold Corp. 903,388 21,681,312Cia de Minas Buenaventura SAA,

ADR (B) 926,986 7,276,840Franco-Nevada Corp. 160,588 22,540,754Freeport-McMoRan, Inc. (B) 1,405,603 12,748,819Fresnillo PLC 1,559,463 15,095,268Gold Fields, Ltd., ADR 752,016 5,805,564Newmont Corp. 97,884 5,723,277Nucor Corp. 93,084 3,933,730

94,805,564135,428,327

Real estate – 6.7%Equity real estate investment trusts – 6.3%Equity Commonwealth 260,009 8,762,303Equity Residential 140,830 8,528,665Federal Realty Investment Trust 26,138 2,088,688Rayonier, Inc. 757,296 17,985,780Regency Centers Corp. 195,552 8,367,670Weyerhaeuser Company 1,369,328 27,646,732

73,379,838Real estate management and development – 0.4%The St. Joe Company (A)(B) 243,541 4,688,164

78,068,002Utilities – 4.6%Electric utilities – 3.5%FirstEnergy Corp. (B) 562,032 23,751,472PG&E Corp. (A) 1,474,314 17,485,364

41,236,836


52


COMMON STOCKS (continued)Gas utilities – 0.2%National Fuel Gas Company 64,274 $ 2,697,580Multi-utilities – 0.9%CenterPoint Energy, Inc. 575,387 10,230,381


PREFERRED SECURITIES – 0.3%Consumer staples – 0.3%Food products – 0.3%Bunge, Ltd., 4.875% 34,849 3,206,108TOTAL PREFERRED SECURITIES (Cost $3,872,698) $ 3,206,108

CORPORATE BONDS - 0.1%Energy - 0.1%Weatherford International, Ltd.

11.000%, 12/01/2024 (C) $ 1,654,000 1,116,450TOTAL CORPORATE BONDS (Cost $1,125,516) $ 1,116,450


0.3653% (D)(E) 9,787,175 97,986,264State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (D) 2,439,953 2,439,953

T. Rowe Price Government ReserveFund, 0.2523% (D) 10,479,199 10,479,199

TOTAL SHORT-TERM INVESTMENTS (Cost $110,865,958) $ 110,905,416Total Investments (Mid Value Fund)


Security Abbreviations and LegendADR American Depositary ReceiptGDR Global Depositary Receipt(A) Non-income producing security.(B) All or a portion of this security is on loan as of 5-31-20. The value





Multi-Index Lifestyle Aggressive PortfolioShares orPrincipalAmount Value

AFFILIATED INVESTMENT COMPANIES (A) - 66.8%Equity - 66.8%Strategic Equity Allocation, Class NAV, JHF II

(MIM US) (B) 20,946,735 $ 228,109,939TOTAL AFFILIATED INVESTMENT COMPANIES (Cost$251,850,230) $ 228,109,939

UNAFFILIATED INVESTMENT COMPANIES - 33.2%Exchange-traded funds - 33.2%Financial Select Sector SPDR Fund 212,349 4,971,090iShares Edge MSCI Min Vol USA ETF 238,535 14,698,527

Multi-Index Lifestyle Aggressive Portfolio(continued)


UNAFFILIATED INVESTMENT COMPANIES (continued)Exchange-traded funds (continued)iShares Global Infrastructure ETF 22,607 $ 882,803Schwab U.S. Large-Cap Growth ETF 60,099 5,878,884Vanguard Dividend Appreciation ETF 90,628 10,666,009Vanguard Energy ETF 63,806 3,277,714Vanguard FTSE All World ex-US

Small-Cap ETF 37,070 3,444,174Vanguard FTSE Developed Markets ETF 12,375 466,166Vanguard FTSE Emerging Markets ETF 340,895 12,735,837Vanguard Global ex-U.S. Real Estate ETF 17,968 821,677Vanguard Health Care ETF 30,629 6,022,274Vanguard Information Technology ETF 18,296 4,775,805Vanguard Materials ETF 14,901 1,773,219Vanguard Mid-Cap ETF 154,850 24,980,402Vanguard Real Estate ETF 31,678 2,452,828Vanguard S&P 500 ETF 10,106 2,827,154Vanguard Small-Cap ETF 90,495 12,882,868TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost$103,672,984) $ 113,557,431

SHORT-TERM INVESTMENTS - 0.0%Short-term funds - 0.0%State Street Institutional U.S. Government

Money Market Fund, Premier Class,0.1303% (C) 151,877 151,877

TOTAL SHORT-TERM INVESTMENTS (Cost $151,877) $ 151,877Total Investments (Multi-Index Lifestyle

Aggressive Portfolio) (Cost $355,675,091) -100.0% $ 341,819,247

Other assets and liabilities, net - 0.0% 20,530TOTAL NET ASSETS - 100.0% $ 341,839,777

Security Abbreviations and LegendJHF II John Hancock Funds IIMIM US Manulife Investment Management (US) LLC(A) The underlying funds’ subadvisor is shown parenthetically.(B) The subadvisor is an affiliate of the advisor.(C) The rate shown is the annualized seven-day yield as of 5-31-20.

Multi-Index Lifestyle Balanced PortfolioShares orPrincipalAmount Value



UNAFFILIATED INVESTMENT COMPANIES - 60.8%Exchange-traded funds - 57.7%Financial Select Sector SPDR Fund (C) 354,166 8,291,026Invesco Senior Loan ETF (C) 841,841 17,981,724iShares Edge MSCI Min Vol USA ETF (C) 693,037 42,704,940iShares Global Infrastructure ETF (C) 40,763 1,591,795iShares JP Morgan USD Emerging Markets

Bond ETF (C) 269,081 28,630,218iShares Preferred & Income Securities ETF (C) 123,346 4,334,378Schwab U.S. Large-Cap Growth ETF (C) 91,658 8,965,986VanEck Vectors J.P. Morgan EM Local

Currency Bond ETF (C) 134,235 4,138,465Vanguard Dividend Appreciation ETF 247,008 29,070,372Vanguard Energy ETF (C) 113,682 5,839,844


53

Multi-Index Lifestyle Balanced Portfolio(continued)


UNAFFILIATED INVESTMENT COMPANIES (continued)Exchange-traded funds (continued)Vanguard FTSE All World ex-US Small-Cap

ETF (C) 22,942 $ 2,131,541Vanguard FTSE Developed Markets ETF 69,775 2,628,424Vanguard FTSE Emerging Markets ETF (C) 313,812 11,724,016Vanguard Global ex-U.S. Real Estate ETF 33,311 1,523,312Vanguard Health Care ETF (C) 49,727 9,777,323Vanguard Information Technology ETF (C) 28,301 7,387,410Vanguard Intermediate-Term Corporate Bond

ETF (C) 1,052,200 98,454,354Vanguard Materials ETF 27,412 3,262,028Vanguard Mid-Cap ETF 208,270 33,598,116Vanguard Real Estate ETF (C) 56,691 4,389,584Vanguard S&P 500 ETF (C) 14,784 4,135,824Vanguard Short-Term Bond ETF 112,946 9,375,647Vanguard Short-Term Corporate Bond ETF 146,679 12,040,879Vanguard Small-Cap ETF (C) 119,015 16,942,977Vanguard Total Bond Market ETF (C) 923,664 81,208,539Xtrackers USD High Yield Corporate

Bond ETF 1,188,063 55,934,006506,062,728

Fixed income - 3.1%Fidelity Inflation Protected Bond Index Fund 2,585,842 27,332,347TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost$499,923,733) $ 533,395,075

SHORT-TERM INVESTMENTS - 9.7%Short-term funds - 9.7%John Hancock Collateral Trust, 0.3653% (D)(E) 8,443,316 84,531,942State Street Institutional U.S. Government

Money Market Fund, Premier Class,0.1303% (D) 1,053 1,053

TOTAL SHORT-TERM INVESTMENTS (Cost $84,492,905) $ 84,532,995Total Investments (Multi-Index Lifestyle

Balanced Portfolio) (Cost $955,445,216) -109.7% $ 961,449,682

Other assets and liabilities, net - (9.7%) (84,736,986)TOTAL NET ASSETS - 100.0% $ 876,712,696

Security Abbreviations and LegendJHF II John Hancock Funds IIMIM US Manulife Investment Management (US) LLC(A) The underlying funds’ subadvisor is shown parenthetically.(B) The subadvisor is an affiliate of the advisor.(C) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $82,905,076.(D) The rate shown is the annualized seven-day yield as of 5-31-20.(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.


Multi-Index Lifestyle Conservative PortfolioShares orPrincipalAmount Value



Multi-Index Lifestyle Conservative Portfolio(continued)


UNAFFILIATED INVESTMENT COMPANIES - 89.4%Exchange-traded funds - 82.8%Invesco Senior Loan ETF (C) 329,041 $ 7,028,316iShares Edge MSCI Min Vol USA ETF 91,367 5,630,035iShares Global Infrastructure ETF 5,740 224,147iShares JP Morgan USD Emerging Markets

Bond ETF (C) 82,802 8,810,133iShares Preferred & Income Securities ETF 52,395 1,841,160VanEck Vectors J.P. Morgan EM Local

Currency Bond ETF (C) 41,310 1,273,587Vanguard Dividend Appreciation ETF 34,395 4,047,948Vanguard Energy ETF 17,412 894,454Vanguard FTSE Developed Markets ETF 63,857 2,405,493Vanguard FTSE Emerging Markets ETF 6,138 229,316Vanguard Global ex-U.S. Real Estate ETF 4,809 219,916Vanguard Intermediate-Term Corporate

Bond ETF 495,228 46,338,484Vanguard Materials ETF 3,729 443,751Vanguard Mid-Cap ETF 9,402 1,516,731Vanguard Real Estate ETF 8,475 656,219Vanguard S&P 500 ETF 1,600 447,600Vanguard Short-Term Bond ETF 52,804 4,383,260Vanguard Short-Term Corporate Bond ETF 79,749 6,546,595Vanguard Small-Cap ETF 6,159 876,795Vanguard Total Bond Market ETF 431,050 37,897,916Xtrackers USD High Yield Corporate

Bond ETF 364,588 17,164,803148,876,659


SHORT-TERM INVESTMENTS - 3.1%Short-term funds - 3.1%John Hancock Collateral Trust, 0.3653% (D)(E) 560,031 5,606,867State Street Institutional U.S. Government



Conservative Portfolio) (Cost$178,374,390) - 103.1% $ 185,284,206



of securities on loan amounted to $5,507,847.(D) The rate shown is the annualized seven-day yield as of 5-31-20.(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.



54

Multi-Index Lifestyle Growth PortfolioShares orPrincipalAmount Value



UNAFFILIATED INVESTMENT COMPANIES - 47.4%Exchange-traded funds - 46.0%Financial Select Sector SPDR Fund 434,937 10,181,875Invesco Senior Loan ETF (C) 427,479 9,130,951iShares Edge MSCI Min Vol USA ETF 657,482 40,514,041iShares Global Infrastructure ETF 47,082 1,838,552iShares JP Morgan USD Emerging Markets

Bond ETF 136,965 14,573,076Schwab U.S. Large-Cap Growth ETF 112,728 11,027,053VanEck Vectors J.P. Morgan EM Local

Currency Bond ETF (C) 68,324 2,106,429Vanguard Dividend Appreciation ETF 240,176 28,266,313Vanguard Energy ETF 127,750 6,562,518Vanguard FTSE All World ex-US

Small-Cap ETF 21,437 1,991,712Vanguard FTSE Developed Markets ETF 213,242 8,032,826Vanguard FTSE Emerging Markets ETF 607,358 22,690,895Vanguard Global ex-U.S. Real Estate ETF 38,795 1,774,095Vanguard Health Care ETF 59,712 11,740,573Vanguard Information Technology ETF 34,080 8,895,902Vanguard Intermediate-Term Corporate

Bond ETF 485,672 45,444,329Vanguard Materials ETF 30,783 3,663,177Vanguard Mid-Cap ETF 279,625 45,109,105Vanguard Real Estate ETF 65,832 5,097,372Vanguard S&P 500 ETF 15,631 4,372,772Vanguard Short-Term Bond ETF 50,973 4,231,269Vanguard Short-Term Corporate Bond ETF 57,386 4,710,817Vanguard Small-Cap ETF 140,516 20,003,859Vanguard Total Bond Market ETF 432,111 37,991,199Xtrackers USD High Yield Corporate

Bond ETF 562,363 26,476,050376,426,760





Growth Portfolio) (Cost $841,477,201) -100.7% $ 823,560,815



of securities on loan amounted to $5,236,959.(D) The rate shown is the annualized seven-day yield as of 5-31-20.

Multi-Index Lifestyle Growth Portfolio (continued)(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.


Multi-Index Lifestyle Moderate PortfolioShares orPrincipalAmount Value



UNAFFILIATED INVESTMENT COMPANIES - 74.2%Exchange-traded funds - 69.8%Invesco Senior Loan ETF (C) 352,833 7,536,513iShares Edge MSCI Min Vol USA ETF 213,213 13,138,185iShares Global Infrastructure ETF 9,467 369,686iShares JP Morgan USD Emerging Markets

Bond ETF 99,526 10,589,566iShares Preferred & Income Securities ETF 54,709 1,922,474VanEck Vectors J.P. Morgan EM Local

Currency Bond ETF (C) 49,847 1,536,783Vanguard Dividend Appreciation ETF 75,829 8,924,315Vanguard Energy ETF 25,493 1,309,575Vanguard FTSE Developed Markets ETF 84,353 3,177,578Vanguard FTSE Emerging Markets ETF 8,970 335,119Vanguard Global ex-U.S. Real Estate ETF 7,730 353,493Vanguard Intermediate-Term Corporate

Bond ETF 490,957 45,938,846Vanguard Materials ETF 5,815 691,985Vanguard Mid-Cap ETF 34,102 5,501,335Vanguard Real Estate ETF 12,803 991,336Vanguard S&P 500 ETF 3,274 915,902Vanguard Short-Term Bond ETF 36,161 3,001,725Vanguard Short-Term Corporate Bond ETF 76,276 6,261,497Vanguard Small-Cap ETF 15,324 2,181,525Vanguard Total Bond Market ETF 420,931 37,008,254Xtrackers USD High Yield Corporate

Bond ETF 412,866 19,437,731171,123,423





Moderate Portfolio) (Cost $245,352,423) -102.4% $ 251,206,203



of securities on loan amounted to $5,710,254.(D) The rate shown is the annualized seven-day yield as of 5-31-20.


55

Multi-Index Lifestyle Moderate Portfolio(continued)(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.


Opportunistic Fixed Income FundShares orPrincipalAmount Value

U.S. GOVERNMENT AND AGENCYOBLIGATIONS - 23.9%U.S. Government - 10.3%U.S. Treasury Inflation

Protected Securities0.125%, 01/15/2030 $ 642,112 $ 681,4850.250%, 07/15/2029 (A) 585,307 628,2620.625%, 01/15/2026 (A) 2,259,650 2,404,5770.750%, 02/15/2045 32,886 39,4790.875%, 02/15/2047 203,177 254,3451.000%, 02/15/2048 (A) 125,614 162,879

4,171,027U.S. Government Agency - 13.6%Federal National Mortgage Association

2.500%, TBA (B) 2,971,000 3,078,6613.000%, TBA (B) 2,354,000 2,473,492

5,552,153TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS(Cost $9,687,603) $ 9,723,180

FOREIGN GOVERNMENT OBLIGATIONS - 44.4%Argentina - 0.2%Republic of Argentina

5.000%, 01/15/2027 EUR 200,000 76,483Australia - 2.5%Commonwealth of Australia

2.500%, 09/20/2030 AUD 450,000 461,8263.000%, 03/21/2047 635,000 542,149

1,003,975Brazil - 0.4%Federative Republic of Brazil

10.000%, 01/01/2025 BRL 795,000 179,306Canada - 6.9%Government of Canada

2.750%, 12/01/2048 CAD 375,000 380,3763.000%, 12/01/2036 397,971 423,7654.000%, 12/01/2031 239,216 256,2674.250%, 12/01/2026 1,882,337 1,747,715

2,808,123Chile - 0.1%Republic of Chile

5.000%, 03/01/2035 CLP 30,000,000 49,246Colombia - 0.3%Republic of Colombia

6.000%, 04/28/2028 COP 381,300,000 105,371Czech Republic - 0.2%Czech Republic

0.250%, 02/10/2027 CZK 2,230,000 89,267Germany - 6.4%Federal Republic of Germany, Inflation

Linked Bond0.100%, 04/15/2026 EUR 1,159,015 1,366,5170.500%, 04/15/2030 971,925 1,242,760

2,609,277Hungary - 0.2%Republic of Hungary

2.750%, 12/22/2026 HUF 19,990,000 68,473

Opportunistic Fixed Income Fund (continued)Shares orPrincipalAmount Value

FOREIGN GOVERNMENT OBLIGATIONS (continued)Iceland - 1.6%Republic of Iceland

5.000%, 11/15/2028 ISK 70,880,000 $ 630,959Indonesia - 4.9%Republic of Indonesia

6.500%, 06/15/2025 IDR 4,662,000,000 314,2398.250%, 05/15/2029 4,125,000,000 297,5878.375%, 03/15/2034 16,831,000,000 1,190,2669.000%, 03/15/2029 2,365,000,000 176,722

1,978,814Japan - 5.2%Government of Japan, CPI Linked Bond

0.100%, 03/10/2028 JPY 229,807,032 2,122,378Malaysia - 0.3%Government of Malaysia

3.955%, 09/15/2025 MYR 490,000 120,864Mexico - 2.6%Government of Mexico

4.000%, 11/30/2028 MXN 5,431,548 277,6487.500%, 06/03/2027 3,795,900 186,5958.000%, 11/07/2047 11,534,700 573,981

1,038,224Peru - 0.2%Republic of Peru

6.950%, 08/12/2031 PEN 250,000 89,798Poland - 0.4%Republic of Poland

2.250%, 10/25/2024 PLN 600,000 160,371Romania - 0.5%Government of Romania

3.875%, 10/29/2035 EUR 110,000 127,9534.750%, 02/24/2025 RON 240,000 56,879

184,832Russia - 4.3%Government of Russia

7.750%, 09/16/2026 RUB 9,930,000 161,283Government of Russia, Inflation Linked

Bond2.500%, 02/02/2028 109,558,026 1,567,649

1,728,932South Africa - 0.3%Republic of South Africa

7.000%, 02/28/2031 ZAR 2,880,000 138,354South Korea - 5.7%Republic of Korea

1.375%, 12/10/2029 KRW 2,557,340,000 2,066,094Republic of Korea, Inflation Linked

Bond1.750%, 06/10/2028 316,870,415 266,621

2,332,715Spain - 0.7%Kingdom of Spain

2.700%, 10/31/2048 (C) EUR 190,000 280,526Thailand - 0.4%Kingdom of Thailand

2.875%, 12/17/2028 THB 4,660,000 167,150Turkey - 0.1%Republic of Turkey

9.000%, 07/24/2024 TRY 400,000 53,992


56


FOREIGN GOVERNMENT OBLIGATIONS (continued)Uruguay - 0.0%Republic of Uruguay

8.500%, 03/15/2028 UYU 150,000 $ 3,086TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost$18,818,512) $ 18,020,516

CORPORATE BONDS - 5.5%Finland - 0.5%Nokia OYJ

6.625%, 05/15/2039 $ 180,000 197,965Luxembourg - 0.1%Codere Finance 2 Luxembourg SA

6.750%, 11/01/2021 EUR 110,000 56,706United States - 4.9%Altria Group, Inc.

3.125%, 06/15/2031 170,000 201,735Antero Midstream Partners LP

5.375%, 09/15/2024 $ 80,000 66,8005.750%, 03/01/2027 (C) 220,000 173,250

Booking Holdings, Inc.4.625%, 04/13/2030 35,000 39,995

Broadcom, Inc.4.300%, 11/15/2032 (C) 40,000 42,195

Centennial Resource Production LLC5.375%, 01/15/2026 (C) 260,000 122,200

Diamondback Energy, Inc.4.750%, 05/31/2025 5,000 5,234

EnLink Midstream Partners LP4.850%, 07/15/2026 250,000 201,250

General Motors Company6.750%, 04/01/2046 180,000 195,786

Matador Resources Company5.875%, 09/15/2026 120,000 89,243

McKesson Corp.4.750%, 05/30/2029 35,000 42,212

PDC Energy, Inc.5.750%, 05/15/2026 250,000 230,939

QEP Resources, Inc.5.375%, 10/01/2022 120,000 68,364

Reynolds American, Inc.5.850%, 08/15/2045 130,000 155,921

Sysco Corp.6.600%, 04/01/2040 30,000 37,600

The Boeing Company5.040%, 05/01/2027 200,000 212,333

United States Steel Corp.6.250%, 03/15/2026 100,000 63,750

Viper Energy Partners LP5.375%, 11/01/2027 (C) 40,000 39,700

1,988,507TOTAL CORPORATE BONDS (Cost $2,527,791) $ 2,243,178

CONVERTIBLE BONDS - 0.0%United States - 0.0%Oasis Petroleum, Inc., 2.625%,

09/15/2023 70,000 7,266TOTAL CONVERTIBLE BONDS (Cost $48,318) $ 7,266

MUNICIPAL BONDS - 1.6%United States - 1.6%Chicago Transit Authority, Series A

(Illinois)6.899%, 12/01/2040 10,000 13,434

City of Austin Airport System Revenue(Texas)5.000%, 11/15/2032 25,000 30,110


MUNICIPAL BONDS (continued)United States (continued)City of Austin Airport System Revenue

(Texas)5.000%, 11/15/2044 $ 60,000 $ 69,467

Greater Orlando Aviation Authority(Florida)5.000%, 10/01/2028 35,000 40,795

Metropolitan Transportation Authority(New York)5.000%, 11/15/2050 25,000 26,972

Metropolitan Transportation Authority(New York)5.175%, 11/15/2049 50,000 54,488

New York City Transitional FinanceAuthority4.000%, 05/01/2045 20,000 23,002

Orange County Convention Center(Florida)5.000%, 10/01/2031 15,000 16,434

Port Authority of New York & NewJersey4.000%, 03/15/2030 50,000 57,060

Port Authority of New York & NewJersey5.000%, 09/15/2033 30,000 35,737

Port of Seattle (Washington)5.000%, 04/01/2039 40,000 46,813

Port of Seattle (Washington)5.000%, 10/01/2031 30,000 34,647

San Francisco City & County AirportCommission (California)5.000%, 05/01/2050 75,000 86,755

State of Connecticut2.547%, 07/01/2028 25,000 25,228

State of Connecticut2.677%, 07/01/2030 45,000 45,625

Triborough Bridge & Tunnel Authority(New York)5.000%, 11/15/2054 30,000 37,047

TOTAL MUNICIPAL BONDS (Cost $629,290) $ 643,614

TERM LOANS (D) - 8.3%Canada - 0.2%Cineworld, Ltd., Incremental Term Loan,

TBD 02/05/2027 (E) 125,000 75,536United Kingdom - 0.2%Formula One Management, Ltd., Term

Loan B, TBD 02/01/2024 (E) 100,000 94,125United States - 7.9%Acrisure LLC, 2020 Term Loan B (3

month LIBOR + 3.500%), 3.765%,02/15/2027 100,000 93,438

AlixPartners LLP, Term Loan B, TBD04/04/2024 (E) 99,743 96,764

Aretec Group, Inc., 2018 Term Loan (1month LIBOR + 4.250%), 4.424%,10/01/2025 99,747 91,768

Asurion LLC, 2017 2nd Lien Term Loan(1 month LIBOR + 6.500%), 6.674%,08/04/2025 100,000 99,438

Asurion LLC, 2017 Term Loan B4, TBD08/04/2022 (E) 99,682 97,614

Bass Pro Group LLC, Term Loan B (1month LIBOR + 5.000%), 6.072%,09/25/2024 100,000 93,708


57


TERM LOANS (D) (continued)United States (continued)Berlin Packaging LLC, 2018 1st Lien

Term Loan (1 and 3 month LIBOR +3.000%), 3.394%, 11/07/2025 $ 99,746 $ 94,616

Boyd Gaming Corp., Term Loan B, TBD09/15/2023 (E) 100,000 95,750

Core & Main LP, Term Loan B, TBD08/01/2024 (E) 99,744 95,380

Dcert Buyer, Inc., 2019 Term Loan B (1month LIBOR + 4.000%), 4.174%,10/16/2026 100,000 96,438

Deerfield Dakota Holding LLC 2020USD Term Loan B (1 month LIBOR+ 3.750%), 4.750%, 04/09/2027 220,000 215,464

Deerfield Dakota Holding LLC, 2020EUR Term Loan B (1 monthEURIBOR + 4.000%), 4.000%,04/09/2027 EUR 150,000 154,436

Diamond BC BV, USD Term Loan, TBD09/06/2024 (E) $ 100,000 92,350

Elanco Animal Health, Inc., Term LoanB, TBD 02/04/2027 (E) 100,000 96,750

Element Solutions, Inc., 2019 Term LoanB1, TBD 01/31/2026 (E) 100,000 96,281

Gray Television, Inc., 2018 Term Loan C(1 month LIBOR + 2.500%), 2.830%,01/02/2026 100,000 97,357

HUB International, Ltd., 2018 TermLoan B (3 month LIBOR + 3.000%),4.020%, 04/25/2025 99,746 95,894

HUB International, Ltd., 2019Incremental Term Loan B (3 monthLIBOR + 4.000%), 5.000%,04/25/2025 100,000 97,753

ION Media Networks, Inc., 2019 TermLoan B (3 month LIBOR + 3.000%),3.813%, 12/18/2024 99,749 95,042

Momentive Performance MaterialsUSA LLC, Term Loan, TBD05/15/2024 (E) 100,000 93,750

MPH Acquisition Holdings LLC, 2016Term Loan B (3 month LIBOR +2.750%), 4.200%, 06/07/2023 100,000 95,854

Navistar, Inc., 2017 1st Lien Term LoanB (1 month LIBOR + 3.500%),3.680%, 11/06/2024 99,745 95,755

NEP Group, Inc., 2018 1st Lien TermLoan (3 month LIBOR + 3.250%),4.700%, 10/20/2025 100,000 83,833

Quikrete Holdings, Inc., 2016 1st LienTerm Loan (1 month LIBOR +2.500%), 2.674%, 02/01/2027 99,750 94,626

Science Applications International Corp.,2020 Incremental Term Loan B (1month LIBOR + 2.250%), 2.424%,03/12/2027 79,167 77,122

SCIH Salt Holdings, Inc., Term Loan B(3 month LIBOR + 4.500%), 5.500%,03/16/2027 100,000 96,000

Sedgwick Claims ManagementServices, Inc., Term Loan B, TBD12/31/2025 (E) 99,747 93,912

SS&C Technologies, Inc., 2018 TermLoan B3 (1 month LIBOR + 1.750%),1.924%, 04/16/2025 58,358 56,425


TERM LOANS (D) (continued)United States (continued)SS&C Technologies, Inc., 2018 Term

Loan B4 (1 month LIBOR + 1.750%),1.924%, 04/16/2025 $ 40,111 $ 38,783

Telenet Financing USD LLC, 2020 USDTerm Loan AR (1 month LIBOR +2.000%), 2.184%, 04/30/2028 100,000 96,208

The Dun & Bradstreet Corp., Term Loan(1 month LIBOR + 4.000%), 4.174%,02/06/2026 100,000 97,208

TransDigm, Inc., 2020 Term Loan E (1month LIBOR + 2.250%), 2.424%,05/30/2025 99,750 91,209

WW International, Inc., 2017 Term LoanB (1 month LIBOR + 4.750%),5.500%, 11/29/2024 98,503 95,713

3,202,639TOTAL TERM LOANS (Cost $3,348,733) $ 3,372,300

COLLATERALIZED MORTGAGE OBLIGATIONS - 8.5%Commercial and residential - 5.2%Arroyo Mortgage Trust

Series 2018-1, Class A1,3.763%, 04/25/2048 (C)(F) 83,906 85,297

Series 2019-1, Class A1,3.805%, 01/25/2049 (C)(F) 80,668 82,354

Bunker Hill Loan Depositary Trust,Series 2019-1, Class A1,3.613%, 10/26/2048 (C) 81,678 82,909

BX Commercial Mortgage TrustSeries 2018-IND, Class A (1 month

LIBOR + 0.750%),0.934%, 11/15/2035 (C)(G) 53,488 52,146

Series 2019-XL, Class A (1 monthLIBOR + 0.920%),1.104%, 10/15/2036 (C)(G) 95,540 93,625

Series 2019-XL, Class B (1 monthLIBOR + 1.080%),1.264%, 10/15/2036 (C)(G) 95,540 92,308

Series 2019-XL, Class C, (1 monthLIBOR + 1.250%),1.434%, 10/15/2036 (C)(G) 95,540 91,829

CAMB Commercial Mortgage Trust,Series 2019-LIFE, Class A, (1 monthLIBOR + 1.070%),1.254%, 12/15/2037 (C)(G) 100,000 96,282

CFCRE Commercial Mortgage Trust,Series 2011-C2, Class C,5.739%, 12/15/2047 (C)(F) 100,000 101,686

COLT Mortgage Loan TrustSeries 2018-3, Class A3,

3.865%, 10/26/2048 (C)(F) 36,501 37,012Series 2019-1, Class A1,

3.705%, 03/25/2049 (C)(F) 48,425 48,673Series 2019-2, Class A1,

3.337%, 05/25/2049 (C)(F) 76,911 77,374Series 2019-4, Class A1,

2.579%, 11/25/2049 (C)(F) 72,812 72,714Commercial Mortgage Trust (Cantor

Fitzgerald/Deutsche Bank AG),Series 2013-CR13, Class A4,4.194%, 11/10/2046 (F) 30,000 32,351

CSAIL Commercial Mortgage Trust,Series 2015-C3, Class A4,3.718%, 08/15/2048 38,000 40,959


58


COLLATERALIZED MORTGAGEOBLIGATIONS (continued)Commercial andresidential (continued)FREMF Mortgage Trust

Series 2015-K49, Class B,3.721%, 10/25/2048 (C)(F) $ 75,000 $ 76,813

Series 2019-K735, Class B,4.020%, 05/25/2026 (C)(F) 100,000 102,065

GS Mortgage Securities TrustSeries 2016-GS4, Class A4,

3.442%, 11/10/2049 (F) 34,000 37,027Series 2020-GC45, Class A1,

2.019%, 02/13/2053 24,468 24,865KKR Industrial Portfolio Trust,

Series 2020-AIP, Class A (1 monthLIBOR + 1.037%),1.221%, 03/15/2037 (C)(G) 100,000 97,244

Metlife Securitization Trust,Series 2018-1A, Class A,3.750%, 03/25/2057 (C)(F) 94,536 99,015

Morgan Stanley Bank of America MerrillLynch Trust, Series 2013-C8, Class B,3.559%, 12/15/2048 (F) 45,000 45,110

MSCG Trust, Series 2018-SELF, Class A(1 month LIBOR + 0.900%),1.084%, 10/15/2037 (C)(G) 75,000 72,179

Verus Securitization TrustSeries 2019-1, Class A1,

3.836%, 02/25/2059 (C)(F) 59,128 59,699Series 2020-1, Class A1,

2.417%, 01/25/2060 (C)(F) 94,980 95,365Wells Fargo Mortgage Backed Securities

Trust, Series 2019-3, Class A1,3.500%, 07/25/2049 (C)(F) 68,003 69,718

WF-RBS Commercial Mortgage TrustSeries 2011-C4, Class C,

5.221%, 06/15/2044 (C)(F) 90,000 83,779Series 2011-C5, Class C,

5.656%, 11/15/2044 (C)(F) 100,000 95,669Series 2013-C13, Class A4,

3.001%, 05/15/2045 65,000 66,4472,112,514

U.S. Government Agency - 3.3%Federal Home Loan Mortgage Corp.

Series 2016-HQA2, Class M2 (1month LIBOR + 2.250%),2.418%, 11/25/2028 (G) 3,705 3,705

Series 2016-HQA4, Class M2, (1month LIBOR + 1.300%),1.468%, 04/25/2029 (G) 60,213 60,071

Series 2017-DNA2, Class M1 (1month LIBOR + 1.200%),1.368%, 10/25/2029 (G) 79,387 79,336

Series 2018-DNA1, Class M2, (1month LIBOR + 1.800%),1.968%, 07/25/2030 (G) 94,595 89,714

Series 2018-HQA1, Class M2 (1month LIBOR + 2.300%),2.468%, 09/25/2030 (G) 30,537 28,469

Series 2020-HQA2, Class M2 (1month LIBOR + 3.100%),3.268%, 03/25/2050 (C)(G) 90,000 76,275

Series K105, Class X1 IO,1.645%, 01/25/2030 169,991 19,832


COLLATERALIZED MORTGAGEOBLIGATIONS (continued)U.S. Government Agency (continued)Federal National Mortgage Association

Series 2015-C04, Class 1M2 (1 monthLIBOR + 5.700%),5.868%, 04/25/2028 (G) $ 71,896 $ 75,782

Series 2016-C02, Class 1M2 (1 monthLIBOR + 6.000%),6.168%, 09/25/2028 (G) 54,538 57,022




Series 2017-C05, Class 1B1, (1 monthLIBOR + 3.600%),3.768%, 01/25/2030 (G) 25,000 19,882


Series 2017-C06, Class 2B1, (1 monthLIBOR + 4.450%),4.618%, 02/25/2030 (G) 10,000 8,098


Series 2017-C07, Class 1B1 (1 monthLIBOR + 4.000%),4.168%, 05/25/2030 (G) 67,000 54,445


Series 2018-R07, Class 1B1, (1 monthLIBOR + 4.350%),4.518%, 04/25/2031 (C)(G) 115,000 95,462

Series 2019-HRP1, Class M2 (1month LIBOR + 2.150%),2.318%, 11/25/2039 (C)(G) 52,369 43,737

Series 2019-R07, Class 1M1, (1month LIBOR + 0.770%),0.938%, 10/25/2039 (C)(G) 51,044 50,733



Series 2020-R02, Class 2B1, (1 monthLIBOR + 3.000%),3.168%, 01/25/2040 (C)(G) 35,000 19,239

1,311,590TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS(Cost $3,291,146) $ 3,424,104

ASSET BACKED SECURITIES - 6.1%Ally Auto Receivables Trust

Series 2018-2, Class A3,2.920%, 11/15/2022 122,870 124,268

Series 2019-4, Class A3,1.840%, 06/17/2024 120,000 122,207


59


ASSET BACKED SECURITIES (continued)Ally Master Owner Trust, Series 2017-3,

Class A1 (1 month LIBOR + 0.430%),0.614%, 06/15/2022 (G) $ 55,000 $ 54,948

American Credit Acceptance ReceivablesTrust, Series 2018-3, Class C,3.750%, 10/15/2024 (C) 90,965 91,332

American Express Credit Account MasterTrust, Series 2017-5, Class B (1month LIBOR + 0.580%),0.764%, 02/18/2025 (G) 100,000 99,381

AmeriCredit Automobile ReceivablesTrust, Series 2016-1, Class D,3.590%, 02/08/2022 100,000 100,382

Canadian Pacer Auto Receivables TrustSeries 2018-1A, Class A3,

3.000%, 11/19/2021 (C) 77,099 77,542Series 2018-2A, Class A2A,

3.000%, 06/21/2021 (C) 8,473 8,486CarMax Auto Owner Trust,

Series 2020-2, Class A3,1.700%, 11/15/2024 25,000 25,535

CCG Receivables Trust, Series 2018-1,Class A2,2.500%, 06/16/2025 (C) 82,528 82,833

ECMC Group Student Loan Trust,Series 2020-1A, Class A,2.260%, 07/25/2069 (C) 100,000 100,560

First Investors Auto Owner Trust,Series 2020-1A, Class A,1.490%, 01/15/2025 (C) 138,898 140,086

Ford Credit Auto Lease Trust,Series 2018-A, Class A3,2.930%, 06/15/2021 64,016 64,145

Ford Credit Auto Owner TrustSeries 2016-1, Class A,

2.310%, 08/15/2027 (C) 100,000 100,747Series 2017-A, Class A4,

1.920%, 04/15/2022 50,000 50,164Series 2017-C, Class A3,

2.010%, 03/15/2022 27,583 27,710Ford Credit Floorplan Master Owner

Trust, Series 2015-5, Class A1,2.420%, 08/15/2022 50,000 50,016

GM Financial Consumer AutomobileReceivables TrustSeries 2018-2, Class A3,

2.810%, 12/16/2022 82,282 83,588Series 2020-2, Class A4,

1.740%, 08/18/2025 10,000 10,158Honda Auto Receivables Owner Trust,

Series 2019-2, Class A3,2.520%, 06/21/2023 59,000 60,753

Mercedes-Benz Auto Lease Trust,Series 2019-A, Class A3,3.100%, 11/15/2021 50,000 50,522

Mill City Mortgage Loan Trust,Series 2018-3, Class A1,3.500%, 08/25/2058 (C)(F) 76,530 79,110

Navient Private Education Refi LoanTrust, Series 2018-A, Class A1,2.530%, 02/18/2042 (C) 16,355 16,361

Nissan Auto Receivables Owner Trust,Series 2020-A, Class A3,1.380%, 12/16/2024 15,000 15,278

Santander Drive Auto Receivables TrustSeries 2018-5, Class C,

3.810%, 12/16/2024 50,000 50,603


ASSET BACKED SECURITIES (continued)Santander Drive Auto

Receivables Trust (continued)Series 2020-1, Class A3,

2.030%, 02/15/2024 $ 5,000 $ 5,057SoFi Professional Loan Program Trust,

Series 2020-C, Class AFX,1.950%, 02/15/2046 (C) 100,000 100,000

Taco Bell Funding LLC, Series 2018-1A,Class A2I,4.318%, 11/25/2048 (C) 98,500 100,498

Towd Point Mortgage TrustSeries 2017-6, Class A1,

2.750%, 10/25/2057 (C)(F) 64,931 66,605Series 2018-2, Class A1,

3.250%, 03/25/2058 (C)(F) 159,639 164,779Toyota Auto Receivables Owner Trust

Series 2016-D, Class A4,1.420%, 01/15/2022 30,486 30,529

Series 2019-C, Class A2A,2.000%, 04/15/2022 38,978 39,239

Westlake Automobile Receivables TrustSeries 2020-1A, Class A2,

1.440%, 09/15/2023 (C) 150,000 150,554Series 2019-A1, Class D,

3.670%, 03/15/2024 (C) 50,000 50,994World Omni Auto Receivables Trust,

Series 2019-A, Class A3,3.040%, 05/15/2024 90,000 92,442

TOTAL ASSET BACKED SECURITIES (Cost $2,463,725) $ 2,487,412

EXCHANGE-TRADED FUNDS - 9.1%iShares iBoxx High Yield Corporate

Bond ETF 15,100 1,244,542iShares JP Morgan USD Emerging

Markets Bond ETF 18,100 1,925,840SPDR Blackstone/GSO Senior Loan ETF 5,000 215,600SPDR Bloomberg Barclays Convertible

Securities ETF 5,700 323,874TOTAL EXCHANGE-TRADED FUNDS (Cost $3,949,338) $ 3,709,856

SHORT-TERM INVESTMENTS - 8.6%Short-term funds - 8.6%State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (H) 3,485,489 3,485,489

TOTAL SHORT-TERM INVESTMENTS (Cost $3,485,489) $ 3,485,489Total Investments (Opportunistic Fixed Income Fund)


Currency AbbreviationsAUD Australian DollarBRL Brazilian RealCAD Canadian DollarCLP Chilean PesoCOP Colombian PesoCZK Czech Republic KorunaEUR EuroHUF Hungarian ForintIDR Indonesian RupiahISK Icelandic KronaJPY Japanese YenKRW Korean WonMXN Mexican Peso


60

Opportunistic Fixed Income Fund (continued)MYR Malaysian RinggitPEN Peruvian Nuevo SolPLN Polish ZlotyRON Romanian New LeuRUB Russian RubleTHB Thai BhatTRY Turkish LiraUYU Uruguayan PesoZAR South African RandSecurity Abbreviations and LegendCPI Consumer Price IndexEURIBOR Euro Interbank Offered RateIO Interest-Only Security - (Interest Tranche of Stripped Mortgage

Pool). Rate shown is the annualized yield at the end of the period.LIBOR London Interbank Offered RateTBA To Be Announced. A forward mortgage-backed securities trade

issued by a U.S. Government Agency, to be delivered at anagreed-upon future settlement date.

(A) All or a portion of this security is segregated at the custodian ascollateral for certain derivatives.

Opportunistic Fixed Income Fund (continued)(B) Security purchased or sold on a when-issued or delayed delivery

basis.(C) These securities are exempt from registration under Rule 144A of

the Securities Act of 1933. Such securities may be resold, normallyto qualified institutional buyers, in transactions exempt fromregistration. Rule 144A securities amounted to $4,239,106 or 10.4%of the fund’s net assets as of 5-31-20.

(D) Term loans are variable rate obligations. The coupon rate shownrepresents the rate at period end.

(E) This position represents an unsettled loan commitment at period end.Certain details associated with this purchase are not known prior tothe settlement date, including coupon rate, which is disclosed asTBD (To Be Determined).

(F) Variable or floating rate security, the interest rate of which adjustsperiodically based on a weighted average of interest rates andprepayments on the underlying pool of assets. The interest rateshown is the current rate as of period end.

(G) Variable rate obligation. The coupon rate shown represents the rateat period end.

(H) The rate shown is the annualized seven-day yield as of 5-31-20.

DERIVATIVES

FUTURES



dateNotional

basis^Notional

value^


(depreciation)10-Year Australian Treasury Bond Futures 9 Long Jun 2020 $906,214 $892,935 $(13,279)10-Year Canada Government Bond Futures 4 Long Sep 2020 446,111 446,352 24110-Year U.S. Treasury Note Futures 2 Long Sep 2020 277,669 278,125 4565-Year U.S. Treasury Note Futures 2 Long Sep 2020 250,723 251,250 527Ultra U.S. Treasury Bond Futures 3 Long Sep 2020 652,599 654,094 1,49510-Year Mini Japan Government Bond Futures 4 Short Jun 2020 (573,004) (564,477) 8,5272-Year U.S. Treasury Note Futures 7 Short Sep 2020 (1,545,424) (1,545,906) (482)German Euro BUND Futures 12 Short Jun 2020 (2,330,983) (2,297,272) 33,711U.K. Long Gilt Bond Futures 8 Short Sep 2020 (1,356,859) (1,357,907) (1,048)U.S. Treasury Long Bond Futures 1 Short Sep 2020 (177,404) (178,375) (971)

$29,177


FORWARD FOREIGN CURRENCY CONTRACTS



dateUnrealized


depreciation

AUD 2,142,000 USD 1,421,690 MSI 6/30/2020 $6,100 —BRL 1,810,000 USD 333,752 JPM 6/2/2020 5,434 —BRL 1,420,000 USD 263,529 MSI 6/2/2020 2,573 —BRL 1,810,000 USD 338,761 JPM 7/2/2020 — $(124)CAD 1,125,000 USD 812,604 BARC 6/30/2020 4,495 —CLP 188,642,000 USD 235,508 JPM 6/30/2020 163 —COP 2,120,175,000 USD 567,104 BARC 6/30/2020 — (216)CZK 12,164,000 USD 493,049 BOA 6/30/2020 8,802 —CZK 1,337,000 USD 53,841 JPM 6/30/2020 1,320 —EUR 1,161,000 USD 1,273,793 JPM 6/30/2020 15,711 —GBP 1,284,000 USD 1,574,071 BOA 6/30/2020 11,870 —HUF 80,878,000 USD 252,605 BOA 6/30/2020 6,001 —IDR 4,929,786,000 USD 331,192 MSI 6/30/2020 3,965 —JPY 356,843,000 USD 3,313,650 CITI 6/30/2020 — (3,453)KRW 925,336,000 USD 749,069 JPM 6/30/2020 1,552 —MXN 12,562,000 USD 564,791 GSI 6/30/2020 — (700)NOK 5,791,000 USD 581,071 JPM 6/30/2020 14,798 —NZD 458,000 USD 283,467 MSI 6/30/2020 804 —PHP 27,397,000 USD 539,470 JPM 6/30/2020 2,520 —RUB 5,830,000 USD 81,569 MSI 6/30/2020 831 —SEK 2,080,000 USD 215,753 JPM 6/30/2020 5,052 —SGD 891,000 USD 629,144 JPM 6/30/2020 1,568 —


61

Opportunistic Fixed Income Fund (continued)FORWARD FOREIGN CURRENCY CONTRACTS (continued)



dateUnrealized


depreciation

SGD 1,490,000 USD 1,048,513 MSI 6/30/2020 $6,213 —TRY 3,777,000 USD 551,782 CITI 6/30/2020 — $(3,008)USD 1,679,163 AUD 2,530,000 MSI 6/30/2020 — (7,256)USD 339,301 BRL 1,810,000 JPM 6/2/2020 114 —USD 261,688 BRL 1,420,000 MSI 6/2/2020 — (4,414)USD 185,219 BRL 1,000,000 MSI 6/30/2020 — (1,892)USD 3,828,268 CAD 5,300,000 BARC 6/30/2020 — (21,175)USD 214,696 CHF 208,000 JPM 6/30/2020 — (1,732)USD 154,213 CLP 123,255,000 CITI 6/30/2020 230 —USD 411,414 CLP 330,900,000 GSI 6/30/2020 — (1,981)USD 245,568 CLP 196,700,000 JPM 6/30/2020 — (170)USD 304,940 CNH 2,183,000 BOA 6/30/2020 — (304)USD 4,255,853 EUR 3,879,000 JPM 6/30/2020 — (52,490)USD 946,404 GBP 772,000 BOA 6/30/2020 — (7,137)USD 705,279 IDR 10,483,974,000 GSI 6/30/2020 — (7,484)USD 1,900,579 IDR 28,290,113,000 MSI 6/30/2020 — (22,753)USD 813,876 ILS 2,860,000 BOA 6/30/2020 — (948)USD 98,545 INR 7,486,000 MSI 6/30/2020 — (337)USD 2,198,632 JPY 236,768,000 CITI 6/30/2020 2,291 —USD 2,371,542 KRW 2,928,285,000 JPM 6/30/2020 — (3,847)USD 875,692 MXN 19,477,000 GSI 6/30/2020 1,085 —USD 30,493 NOK 302,000 BOA 6/30/2020 — (582)USD 108,368 NOK 1,080,000 JPM 6/30/2020 — (2,760)USD 559,276 PLN 2,295,000 BOA 6/30/2020 — (12,847)USD 305,562 RON 1,355,000 CITI 6/30/2020 — (4,233)USD 1,928,575 RUB 137,842,000 MSI 6/30/2020 — (19,648)USD 718,806 SEK 6,881,000 BARC 6/30/2020 — (11,657)USD 22,613 SEK 218,000 JPM 6/30/2020 — (530)USD 289,546 SGD 410,000 MSI 6/30/2020 — (680)USD 302,406 TRY 2,070,000 CITI 6/30/2020 1,649 —USD 132,700 ZAR 2,324,000 BOA 6/30/2020 680 —ZAR 4,452,000 USD 254,830 BARC 6/30/2020 — (1,925)

$105,821 $(196,283)

SWAPS

Interest rate swaps

Counterparty (OTC)/Centrally cleared


Paymentsmade

Paymentsreceived

Fixedpayment

frequency

Floatingpayment

frequencyMaturity

date

Unamortizedupfront

payment paid(received)



CITI 6,440,000 CNY CNY CNREPOFIX Reuters Fixed 2.390% Quarterly Quarterly Jun 2025 — $18,763 $18,763— $18,763 $18,763

Credit default swaps - Buyer


Referenceobligation


USDnotionalamount

Payfixedrate

Fixedpayment

frequencyMaturity

date

Unamortizedupfront

paymentpaid

(received)



CITIPeople’s Republic ofChina 625,000 USD $625,000 1.000% Quarterly Dec 2024 $(12,675) $(2,425) $(15,100)

GSI Government of Russia 350,000 USD 350,000 1.000% Quarterly Dec 2024 1,298 (758) 540

GSIPeople’s Republic ofChina 850,000 USD 850,000 1.000% Quarterly Dec 2024 (21,907) 1,371 (20,536)

GSI Republic of Indonesia 470,000 USD 470,000 1.000% Quarterly Dec 2024 1,422 7,625 9,047GSI Government of Russia 665,000 USD 665,000 1.000% Quarterly Jun 2025 21,583 (17,006) 4,577JPM Republic of Korea 2,110,000 USD 2,110,000 1.000% Quarterly Dec 2024 (65,936) (9,997) (75,933)JPM Government of Russia 395,000 USD 395,000 1.000% Quarterly Jun 2025 13,556 (10,837) 2,719

MSIFederative Republic ofBrazil 270,000 USD 270,000 1.000% Quarterly Dec 2024 5,848 12,960 18,808

MSI Government of Japan 2,090,000 USD 2,090,000 1.000% Quarterly Dec 2024 (69,563) (8,944) (78,507)MSI Government of Malaysia 1,370,000 USD 1,370,000 1.000% Quarterly Dec 2024 (19,386) 4,520 (14,866)MSI Republic of Colombia 290,000 USD 290,000 1.000% Quarterly Dec 2024 2,406 4,668 7,074MSI CMBX.NA.BBB-.7 440,000 USD 440,000 3.000% Monthly Jan 2047 10,096 103,613 113,709


62

Opportunistic Fixed Income Fund (continued)

Credit default swaps - Buyer (continued)


Referenceobligation


USDnotionalamount

Payfixedrate

Fixedpayment

frequencyMaturity

date

Unamortizedupfront

paymentpaid

(received)



MSI CMBX.NA.BBB-.8 460,000 USD $460,000 3.000% Monthly Oct 2057 $22,233 $127,539 $149,772$10,385,000 $(111,025) $212,329 $101,304

Centrally clearediTraxx Europe CrossoverSeries 32 Version 1 420,000 EUR 474,873 5.000% Quarterly Dec 2024 (21,748) (6,161) (27,909)

$474,873 $(21,748) $(6,161) $(27,909)$10,859,873 $(132,773) $206,168 $73,395

Credit default swaps - Seller


Referenceobligation

Impliedcreditspread


USDnotionalamount

Receivedfixedrate

Fixedpayment

frequencyMaturity

date

Unamortizedupfront

paymentpaid

(received)



GSI CDX.NA.HY.34 7.248% 842,800 USD $842,800 5.000% Quarterly Jun 2023 $(20,122) $(6,474) $(26,596)GSI CDX.NA.HY.34 7.248% 426,300 USD 426,300 5.000% Quarterly Jun 2023 (10,187) (3,265) (13,452)GSI CDX.NA.HY.34 7.248% 421,400 USD 421,400 5.000% Quarterly Jun 2023 (15,228) 1,930 (13,298)

$1,690,500 $(45,537) $(7,809) $(53,346)Centrally cleared CDX.NA.HY.33 6.619% 2,807,250 USD 2,807,250 5.000% Quarterly Dec 2024 24,516 (17,122) 7,394Centrally cleared CDX.NA.IG.33 0.847% 1,560,000 USD 1,560,000 1.000% Quarterly Dec 2024 (1,160) 34,728 33,568Centrally cleared iTraxx Europe Series 32 Version 1 0.804% 3,390,000 EUR 3,832,904 1.000% Quarterly Dec 2024 30,320 37,178 67,498

$8,200,154 $53,676 $54,784 $108,460$9,890,654 $8,139 $46,975 $55,114

Total return swapsPay/receivetotalreturn*

Referenceentity

Floating/fixedrate

Paymentfrequency Currency

Notionalamount

Maturitydate

Counterparty(OTC)

Unamortizedupfront

payment paid(received)



ReceiveiBoxx $ Liquid LeveragedLoan Index 1-Month USD LIBOR At Maturity USD 1,000,000 Jun 2020 MSI — $(47,673) $(47,673)

— $(47,673) $(47,673)

* Fund will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the fund has elected toreceive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If thefund has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative.

Derivatives Currency AbbreviationsAUD Australian DollarBRL Brazilian RealCAD Canadian DollarCHF Swiss FrancCLP Chilean PesoCNY Chinese Yuan RenminbiCOP Colombian PesoCZK Czech Republic KorunaEUR EuroGBP Pound SterlingHUF Hungarian ForintIDR Indonesian RupiahILS Israeli New ShekelINR Indian RupeeJPY Japanese YenKRW Korean WonMXN Mexican PesoNOK Norwegian KroneNZD New Zealand DollarPHP Philippine PesoPLN Polish ZlotyRON Romanian New LeuRUB Russian Ruble


63

Opportunistic Fixed Income Fund (continued)SEK Swedish KronaSGD Singapore DollarTRY Turkish LiraUSD U.S. DollarZAR South African Rand

Derivatives AbbreviationsBARC Barclays Bank PLCBOA Bank of America, N.A.CITI Citibank, N.A.CNREPOFIX China Fixing Repo RateGSI Goldman Sachs InternationalJPM JPMorgan Chase Bank, N.A.LIBOR London Interbank Offered RateMSI Morgan Stanley & Co. International PLCOTC Over-the-counter

Real Estate Securities FundShares orPrincipalAmount Value

COMMON STOCKS – 98.8%Consumer discretionary – 1.2%Hotels, restaurants and leisure – 1.2%Hotels, resorts and cruise lines – 1.2%Hyatt Hotels Corp., Class A (A) 64,567 $ 3,556,996Real estate – 97.6%Equity real estate investment trusts –97.6%Diversified REITs – 1.3%Essential Properties Realty Trust, Inc. 303,915 4,145,401Health care REITs – 10.7%Healthcare Trust of America, Inc.,

Class A 145,110 3,841,062Healthpeak Properties, Inc. 158,120 3,896,077Medical Properties Trust, Inc. 182,804 3,305,096Omega Healthcare Investors, Inc. 246,411 7,673,239Sabra Health Care REIT, Inc. 207,935 2,798,805Welltower, Inc. 224,097 11,354,995

32,869,274Hotel and resort REITs – 0.7%Apple Hospitality REIT, Inc. 223,078 2,277,626Industrial REITs – 15.5%EastGroup Properties, Inc. 66,728 7,757,130Prologis, Inc. 336,965 30,832,297Rexford Industrial Realty, Inc. 225,560 8,977,288

47,566,715Office REITs – 9.5%Alexandria Real Estate Equities, Inc. 84,318 12,961,363Cousins Properties, Inc. 230,880 7,184,986Highwoods Properties, Inc. 213,424 8,167,736Kilroy Realty Corp. 13,901 794,025

29,108,110Residential REITs – 23.3%American Homes 4 Rent, Class A 263,587 6,652,936Equity LifeStyle Properties, Inc. 176,704 11,008,659Equity Residential 111,651 6,761,585Essex Property Trust, Inc. 51,146 12,416,714Invitation Homes, Inc. 422,012 11,098,916Mid-America Apartment

Communities, Inc. 104,492 12,158,689Sun Communities, Inc. 58,789 8,065,263UDR, Inc. 97,698 3,612,872

71,775,634

Real Estate Securities Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Retail REITs – 8.7%Agree Realty Corp. 110,766 $ 6,952,782Kimco Realty Corp. 597,880 6,642,447Realty Income Corp. 119,783 6,625,198Regency Centers Corp. 149,351 6,390,729

26,611,156Specialized REITs – 27.9%American Tower Corp. 21,048 5,433,962CyrusOne, Inc. 91,403 6,794,899Digital Realty Trust, Inc. 100,966 14,494,679Equinix, Inc. 42,746 29,820,892Extra Space Storage, Inc. 92,979 8,995,718Gaming and Leisure Properties, Inc. 241,608 8,345,140Life Storage, Inc. 76,104 7,418,618SBA Communications Corp. 14,811 4,652,579

85,956,487300,310,403

TOTAL COMMON STOCKS (Cost $258,514,639) $ 303,867,399


0.3653% (B)(C) 187,867 1,880,873State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (B) 4,974,701 4,974,701

TOTAL SHORT-TERM INVESTMENTS (Cost$6,853,458) $ 6,855,574Total Investments (Real Estate

Securities Fund)(Cost $265,368,097) – 101.0% $ 310,722,973

Other assets and liabilities, net – (1.0%) (3,183,965)TOTAL NET ASSETS – 100.0% $ 307,539,008

Security Abbreviations and Legend(A) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $1,835,161.(B) The rate shown is the annualized seven-day yield as of 5-31-20.(C) Investment is an affiliate of the fund, the advisor and/or subadvisor.



64

Science & Technology FundShares orPrincipalAmount Value

COMMON STOCKS – 93.9%Communication services – 20.0%Entertainment – 2.3%Activision Blizzard, Inc. 19,010 $ 1,368,340Electronic Arts, Inc. (A) 2,305 283,238NetEase, Inc., ADR 1,650 631,785Netflix, Inc. (A) 6,105 2,562,452Take-Two Interactive Software, Inc. (A) 2,020 275,063Zynga, Inc., Class A (A)(B) 193,840 1,773,636

6,894,514Interactive media and services – 17.4%58.com, Inc., ADR (A) 115,118 5,526,815Alphabet, Inc., Class C (A) 12,242 17,492,839Baidu, Inc., ADR (A) 12,612 1,343,809Facebook, Inc., Class A (A) 90,041 20,267,326Mail.Ru Group, Ltd., GDR (A) 230,367 4,133,437NAVER Corp. 14,754 2,698,338

51,462,564Media – 0.3%News Corp., Class A 65,299 799,913

59,156,991Consumer discretionary – 16.8%Automobiles – 0.3%Tesla, Inc. (A) 965 805,775Internet and direct marketing retail – 16.5%Alibaba Group Holding, Ltd., ADR (A) 27,393 5,681,034Amazon.com, Inc. (A) 5,756 14,058,282Booking Holdings, Inc. (A) 4,803 7,874,134Expedia Group, Inc. 1,785 141,872GrubHub, Inc. (A) 805 45,676JD.com, Inc., ADR (A) 5,745 312,126Naspers, Ltd., N Shares 15,876 2,584,501Tongcheng-Elong Holdings, Ltd. (A) 606,400 1,096,336Trip.com Group, Ltd., ADR (A) 275,084 7,308,982Zalando SE (A)(C) 141,052 9,591,380

48,694,32349,500,098

Health care – 1.4%Health care equipment and supplies – 0.9%Intuitive Surgical, Inc. (A) 4,611 2,674,518Health care technology – 0.5%Veeva Systems, Inc., Class A (A) 6,365 1,393,108

4,067,626Industrials – 0.7%Aerospace and defense – 0.6%The Boeing Company 12,165 1,774,265Electrical equipment – 0.1%Bloom Energy Corp., Class A (A) 23,560 189,187

1,963,452Information technology – 55.0%Communications equipment – 0.2%F5 Networks, Inc. (A) 1,005 145,645Telefonaktiebolaget LM Ericsson,

ADR (B) 32,475 296,822442,467

Electronic equipment, instruments and components – 0.7%Amphenol Corp., Class A 2,385 230,296Cognex Corp. (B) 5,360 304,126Flex, Ltd. (A)(B) 30,130 292,562IPG Photonics Corp. (A) 1,920 298,368Samsung SDI Company, Ltd. 2,900 844,381

1,969,733

Science & Technology Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)IT services – 10.6%Adyen NV (A)(C) 345 $ 452,392Akamai Technologies, Inc. (A) 1,500 158,700DXC Technology Company 11,580 164,552EPAM Systems, Inc. (A) 980 226,027Fidelity National Information

Services, Inc. 9,482 1,316,386Fiserv, Inc. (A) 13,110 1,399,755Global Payments, Inc. 8,779 1,575,743Mastercard, Inc., Class A 9,260 2,786,241MongoDB, Inc. (A)(B) 18,600 4,317,246Okta, Inc. (A) 31,215 6,105,030PayPal Holdings, Inc. (A) 24,425 3,786,119Shopify, Inc., Class A (A) 575 435,735Square, Inc., Class A (A) 16,820 1,363,766Twilio, Inc., Class A (A) 27,370 5,408,312Wix.com, Ltd. (A) 8,153 1,812,656

31,308,660Semiconductors and semiconductor equipment – 12.9%Advanced Micro Devices, Inc. (A) 49,920 2,685,696Applied Materials, Inc. 60,156 3,379,564ASML Holding NV, NYRS (B) 2,915 960,522Cree, Inc. (A)(B) 9,775 515,045Intel Corp. 12,005 755,475KLA Corp. 1,925 338,723Lam Research Corp. 10,836 2,965,488Maxim Integrated Products, Inc. 55,996 3,229,849Microchip Technology, Inc. 5,765 553,555Micron Technology, Inc. (A) 143,687 6,884,044NVIDIA Corp. 19,661 6,980,048Qorvo, Inc. (A) 4,385 459,285QUALCOMM, Inc. 54,100 4,375,608SK Hynix, Inc. 1,200 79,575Skyworks Solutions, Inc. 13,185 1,562,950STMicroelectronics NV 8,680 215,567STMicroelectronics NV, NYRS (B) 40,120 996,982Taiwan Semiconductor

Manufacturing Company, Ltd., ADR 10,695 538,279Teradyne, Inc. (B) 4,030 270,091Tokyo Electron, Ltd. 1,900 382,343

38,128,689Software – 22.8%Alteryx, Inc., Class A (A)(B) 13,395 1,928,076Atlassian Corp. PLC, Class A (A) 29,720 5,507,116Autodesk, Inc. (A) 1,405 295,584Citrix Systems, Inc. 15,336 2,271,568Coupa Software, Inc. (A) 1,390 316,239Crowdstrike Holdings, Inc., Class A (A) 41,125 3,611,186Datadog, Inc., Class A (A) 6,630 472,520DocuSign, Inc. (A) 2,340 326,992Elastic NV (A) 3,755 322,630Fortinet, Inc. (A) 2,105 293,016HubSpot, Inc. (A) 12,540 2,507,248Intuit, Inc. 5,038 1,462,632Microsoft Corp. 90,923 16,661,640Palo Alto Networks, Inc. (A) 1,250 294,088Paycom Software, Inc. (A) 11,470 3,409,228Proofpoint, Inc. (A) 7,375 857,491RingCentral, Inc., Class A (A) 20,515 5,626,239salesforce.com, Inc. (A) 43,631 7,626,262ServiceNow, Inc. (A) 1,935 750,645Slack Technologies, Inc., Class A (A) 36,070 1,264,254Smartsheet, Inc., Class A (A) 5,230 301,562Splunk, Inc. (A) 8,460 1,572,206Synopsys, Inc. (A) 6,398 1,157,462TeamViewer AG (A) 27,100 1,375,996


65

Science & Technology Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Software (continued)Workday, Inc., Class A (A) 10,719 $ 1,966,186Zendesk, Inc. (A) 3,600 308,700Zoom Video Communications, Inc.,

Class A (A) 10,190 1,828,901Zscaler, Inc. (A)(B) 30,590 3,000,573

67,316,240Technology hardware, storage and peripherals – 7.8%Apple, Inc. 26,045 8,280,747NetApp, Inc. 11,695 520,895Pure Storage, Inc., Class A (A) 399,057 7,027,394Samsung Electronics Company, Ltd. 176,245 7,258,839

23,087,875162,253,664

Real estate – 0.0%Equity real estate investment trusts – 0.0%Equinix, Inc. 230 160,455TOTAL COMMON STOCKS (Cost $217,625,265) $ 277,102,286

PREFERRED SECURITIES – 0.6%Communication services – 0.3%Media – 0.3%Airbnb, Inc., Series E (A)(D)(E) 16,398 901,890Industrials – 0.3%Road and rail – 0.3%DiDi Chuxing, Inc. (A)(D)(E) 16,798 684,435TOTAL PREFERRED SECURITIES (Cost $1,987,267) $ 1,586,325

EXCHANGE-TRADED FUNDS – 0.4%Invesco QQQ Trust Series 1 (B) 1,825 425,882iShares Expanded Tech Sector ETF 1,600 423,376Technology Select Sector SPDR Fund 4,305 421,761TOTAL EXCHANGE-TRADED FUNDS (Cost $1,202,359) $ 1,271,019

TERM LOANS (F) – 0.1%Communication services – 0.1%Airbnb, Inc., Term Loan (3 month

LIBOR + 7.500%)8.500%, 04/17/2025 $ 320,000 325,200

TOTAL TERM LOANS (Cost $312,012) $ 325,200


0.3653% (G)(H) 1,228,209 12,296,460State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (G) 2,042,607 2,042,607

T. Rowe Price Government ReserveFund, 0.2523% (G) 8,587,459 8,587,459

22,926,526Repurchase agreement – 1.4%Repurchase Agreement with State Street

Corp. dated 5-29-20 at 0.000% to berepurchased at $4,306,000 on 6-1-20,collateralized by $4,165,000U.S. Treasury Notes, 2.000% due11-30-22 (valued at $4,392,359) $ 4,306,000 4,306,000

TOTAL SHORT-TERM INVESTMENTS (Cost $27,226,274) $ 27,232,526Total Investments (Science & Technology Fund)


Science & Technology Fund (continued)Security Abbreviations and LegendADR American Depositary ReceiptGDR Global Depositary ReceiptLIBOR London Interbank Offered RateNYRS New York Registry Shares(A) Non-income producing security.(B) All or a portion of this security is on loan as of 5-31-20. The value



(D) Restricted security as to resale, excluding 144A securities. For moreinformation on this security refer to the Notes to Portfolio ofInvestments.

(E) Security is valued using significant unobservable inputs and isclassified as Level 3 in the fair value hierarchy.

(F) Term loans are variable rate obligations. The coupon rate shownrepresents the rate at period end.

(G) The rate shown is the annualized seven-day yield as of 5-31-20.(H) Investment is an affiliate of the fund, the advisor and/or subadvisor.


Strategic Equity Allocation FundShares orPrincipalAmount Value

COMMON STOCKS – 94.8%Communication services – 8.3%Diversified telecommunication services – 1.4%Anterix, Inc. (A)(B) 1,380 $ 73,968AT&T, Inc. 823,159 25,402,687ATN International, Inc. 1,401 83,219Bandwidth, Inc., Class A (A)(B) 2,032 225,247BCE, Inc. 28,151 1,170,121BT Group PLC 747,815 1,076,645Cellnex Telecom SA (A)(C) 36,273 2,035,213CenturyLink, Inc. (B) 110,555 1,086,756China Telecom Corp., Ltd., H Shares 1,801,296 597,549China Tower Corp., Ltd., H Shares (C) 5,394,400 1,095,598China Unicom Hong Kong, Ltd. 793,816 461,599Chunghwa Telecom Company, Ltd. 466,479 1,717,598Cincinnati Bell, Inc. (A) 6,270 92,357Cogent Communications Holdings, Inc. 5,323 407,316Consolidated Communications

Holdings, Inc. (A) 8,983 54,437Deutsche Telekom AG 482,114 7,566,118Elisa OYJ 18,375 1,144,995HKT Trust & HKT, Ltd. 453,322 644,895IDT Corp., Class B (A) 2,217 14,056Iliad SA 815 142,764Iridium Communications, Inc. (A) 12,578 289,294Koninklijke KPN NV 584,269 1,428,169LG Uplus Corp. 42,525 452,904Nippon Telegraph & Telephone Corp. 199,900 4,549,961Ooma, Inc. (A) 2,644 33,156Orange Polska SA (A) 46,571 75,439Orange SA 108,860 1,309,203ORBCOMM, Inc. (A) 9,991 27,375PCCW, Ltd. 467,000 256,768Proximus SADP 8,500 176,360Singapore Telecommunications, Ltd. 106,650 187,815Singapore Telecommunications, Ltd. 229,178 403,347Spark New Zealand, Ltd. 113,104 310,918Swisscom AG 3,183 1,656,436Telecom Italia SpA (A) 901,840 334,779Telecom Italia SpA, Savings Shares 636,925 246,484Telefonica Deutschland Holding AG 123,978 378,094


66

Strategic Equity Allocation Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Diversified telecommunication services (continued)Telefonica SA 677,346 $ 3,171,803Telekom Malaysia BHD 118,818 115,312Telekomunikasi Indonesia Persero

Tbk PT 4,925,660 1,062,936Telenor ASA 44,728 677,961Telia Company AB 398,138 1,361,774Telkom SA SOC, Ltd. 37,277 37,697Telstra Corp., Ltd. 541,856 1,160,511TELUS Corp. 71,343 1,236,332TPG Telecom, Ltd. 47,548 267,299True Corp. PCL, NVDR 1,153,500 133,924United Internet AG 14,689 605,078Verizon Communications, Inc. 466,036 26,741,146Vonage Holdings Corp. (A) 28,702 276,400

94,057,813Entertainment – 1.4%Activision Blizzard, Inc. 107,727 7,754,189Alibaba Pictures Group, Ltd. (A) 1,840,500 224,298AMC Entertainment Holdings, Inc.,

Class A (B) 6,790 34,833Bollore SA 44,090 126,604CD Projekt SA (A) 4,835 487,397Cinemark Holdings, Inc. 28,579 429,542Electronic Arts, Inc. (A) 40,942 5,030,953Eros International PLC (A)(B) 9,492 30,659Gaia, Inc. (A) 1,480 11,588Glu Mobile, Inc. (A) 14,664 146,347HUYA, Inc., ADR (A)(B) 7,900 122,608IMAX Corp. (A) 6,720 84,739iQIYI, Inc., ADR (A)(B) 16,100 267,099Konami Holdings Corp. 14,500 509,430Liberty Media Corp.-Liberty Braves,

Class A (A) 1,318 29,774Liberty Media Corp.-Liberty Braves,

Class C (A) 4,582 100,575Live Nation Entertainment, Inc. (A)(B) 19,759 971,352LiveXLive Media, Inc. (A) 4,497 12,861NCSoft Corp. 3,266 2,086,260NetEase, Inc., ADR 9,104 3,485,922Netflix, Inc. (A) 61,452 25,793,248Netmarble Corp. (A)(C) 5,054 377,599Nexon Company, Ltd. 76,800 1,600,192Nintendo Company, Ltd. 17,339 7,049,668Pearl Abyss Corp. (A) 1,261 208,408Square Enix Holdings Company, Ltd. 14,200 691,738Take-Two Interactive Software, Inc. (A) 15,870 2,161,018Tencent Music Entertainment Group,

ADR (A)(B) 11,700 151,164The Marcus Corp. 2,970 40,036The Walt Disney Company 252,736 29,645,933Toho Company, Ltd. 17,300 636,066Ubisoft Entertainment SA (A) 4,926 382,226Vivendi SA 45,012 1,029,214World Wrestling Entertainment, Inc.,

Class A (B) 12,722 588,64792,302,187

Interactive media and services – 3.8%58.com, Inc., ADR (A) 12,100 580,921Alphabet, Inc., Class A (A) 42,014 60,227,909Alphabet, Inc., Class C (A) 41,911 59,887,466Auto Trader Group PLC (C) 84,423 586,809Autohome, Inc., ADR (B) 7,500 576,975Baidu, Inc., ADR (A) 35,300 3,761,215CarGurus, Inc. (A) 9,519 247,304Cars.com, Inc. (A)(B) 8,731 53,870


COMMON STOCKS (continued)Interactive media and services (continued)DHI Group, Inc. (A) 6,634 $ 17,713Eventbrite, Inc., Class A (A)(B) 4,763 41,057EverQuote, Inc., Class A (A) 1,097 59,150Facebook, Inc., Class A (A) 337,440 75,954,370JOYY, Inc., ADR (A) 7,400 451,770Kakaku.com, Inc. 20,800 505,117Kakao Corp. 10,245 2,187,948Liberty TripAdvisor Holdings, Inc.,

Class A (A) 9,722 23,090LINE Corp. (A) 9,100 455,627Momo, Inc., ADR 19,300 374,420NAVER Corp. 27,767 5,078,266QuinStreet, Inc. (A) 5,916 59,988REA Group, Ltd. 6,675 448,881SEEK, Ltd. (B) 42,710 573,740SINA Corp. (A) 7,900 247,349Tencent Holdings, Ltd. 736,212 39,870,192The Meet Group, Inc. (A) 8,674 53,605TripAdvisor, Inc. 28,168 543,079TrueCar, Inc. (A) 13,663 36,890Twitter, Inc. (A) 108,861 3,371,425Weibo Corp., ADR (A)(B) 7,000 215,390Yelp, Inc. (A)(B) 25,831 561,566Z Holdings Corp. 412,107 1,695,019

258,748,121Media – 0.9%Altice Europe NV (A) 101,729 401,850AMC Networks, Inc., Class A (A) 11,815 334,010Boston Omaha Corp., Class A (A) 1,402 22,881Cable One, Inc. 1,347 2,541,641Cardlytics, Inc. (A)(B) 1,803 122,766Central European Media

Enterprises, Ltd., Class A (A) 11,214 44,856Charter Communications, Inc.,

Class A (A) 21,985 11,959,840Cheil Worldwide, Inc. 13,697 184,132China Literature, Ltd. (A)(B)(C) 32,200 184,021Comcast Corp., Class A 636,583 25,208,687comScore, Inc. (A) 6,713 25,274Cumulus Media, Inc., Class A (A) 1,956 10,113CyberAgent, Inc. 15,600 788,867Cyfrowy Polsat SA 17,495 114,106Daily Journal Corp. (A)(B) 141 39,494Dentsu Group, Inc. 33,344 891,089Discovery, Inc., Series A (A)(B) 22,158 481,937Discovery, Inc., Series C (A) 47,051 921,729DISH Network Corp., Class A (A) 35,898 1,136,172Emerald Holding, Inc. 3,869 8,589Entercom Communications Corp.,

Class A 15,707 26,231Entravision Communications Corp.,

Class A 8,025 12,038Eutelsat Communications SA 9,376 93,874Fluent, Inc. (A) 6,028 12,026Fox Corp., Class A 49,711 1,450,070Fox Corp., Class B 22,769 655,292Gannett Company, Inc. 15,954 20,900Gray Television, Inc. (A) 11,536 160,812Grupo Televisa SAB (A) 323,597 383,509Hakuhodo DY Holdings, Inc. 35,900 447,073Hemisphere Media Group, Inc. (A) 2,386 23,383Informa PLC 110,749 634,425ITV PLC 324,723 323,807JCDecaux SA (A) 4,229 86,654John Wiley & Sons, Inc., Class A 11,728 471,466


67


COMMON STOCKS (continued)Media (continued)Liberty Latin America, Ltd.,

Class A (A)(B) 6,234 $ 62,153Liberty Latin America, Ltd., Class C (A) 14,155 135,888Loral Space & Communications, Inc. 1,674 31,521MDC Partners, Inc., Class A (A) 7,810 10,270Media General, Inc. (A)(D) 18,354 1,745Megacable Holdings SAB de CV 41,900 126,600Meredith Corp. (B) 5,100 76,194MSG Networks, Inc., Class A (A)(B) 5,463 67,632MultiChoice Group, Ltd. (A) 54,172 267,646National CineMedia, Inc. 8,132 22,363News Corp., Class A 54,513 667,784News Corp., Class B 17,039 208,898Omnicom Group, Inc. 30,530 1,672,739Pearson PLC 69,822 399,313Publicis Groupe SA 11,949 340,489Quebecor, Inc., Class B 31,345 689,119Saga Communications, Inc., Class A 489 12,993Schibsted ASA, B Shares (A) 6,172 148,105Scholastic Corp. 3,817 112,220SES SA 19,859 147,123Shaw Communications, Inc., Class B 82,488 1,391,725Singapore Press Holdings, Ltd. 70,400 63,964TechTarget, Inc. (A)(B) 2,904 79,831TEGNA, Inc. 85,549 1,002,634Telenet Group Holding NV 2,393 97,905The EW Scripps Company, Class A 7,080 61,384The Interpublic Group of

Companies, Inc. 54,366 930,202The New York Times Company, Class A 38,538 1,511,846Tribune Publishing Company 2,268 21,546ViacomCBS, Inc., Class B 75,778 1,571,636WideOpenWest, Inc. (A) 3,284 21,379WPP PLC 113,449 863,400

63,041,861Wireless telecommunication services – 0.8%Advanced Info Service PCL, NVDR 122,100 739,171America Movil SAB de CV, Series L 4,467,400 2,969,604Axiata Group BHD 283,953 248,057Boingo Wireless, Inc. (A) 5,581 76,460China Mobile, Ltd. 789,970 5,585,670DiGi.Com BHD 310,020 324,188Empresa Nacional de

Telecomunicaciones SA 23,648 150,681Far EasTone Telecommunications

Company, Ltd. 189,595 409,338Globe Telecom, Inc. 4,505 204,169Gogo, Inc. (A)(B) 7,540 15,683Intouch Holdings PCL, NVDR 230,800 390,994KDDI Corp. 274,567 8,014,386Maxis BHD 239,660 290,847Millicom International Cellular SA 14,145 337,844MTN Group, Ltd. 211,848 656,716NTT DOCOMO, Inc. 207,000 5,689,119PLDT, Inc. 11,755 292,553Rogers Communications, Inc., Class B 62,194 2,606,380Shenandoah

Telecommunications Company 6,057 318,659SK Telecom Company, Ltd. 4,011 700,527Softbank Corp. 259,500 3,295,099SoftBank Group Corp. 243,552 11,124,418Spok Holdings, Inc. 2,430 24,956Taiwan Mobile Company, Ltd. 197,000 704,927Tele2 AB, B Shares 72,651 962,618Telephone & Data Systems, Inc. 26,219 537,227


COMMON STOCKS (continued)Wireless telecommunication services (continued)TIM Participacoes SA 85,989 $ 219,472T-Mobile US, Inc. (A) 42,898 4,291,516Total Access Communication

PCL, NVDR 72,200 100,692Turkcell Iletisim Hizmetleri AS 72,353 150,330Vodacom Group, Ltd. 79,608 571,569Vodafone Group PLC 2,378,277 3,911,072XL Axiata Tbk PT (A) 381,700 67,750

55,982,692564,132,674

Consumer discretionary – 10.7%Auto components – 0.5%Adient PLC (A) 34,483 586,556Aisin Seiki Company, Ltd. 25,100 794,809American Axle & Manufacturing

Holdings, Inc. (A)(B) 14,402 102,398Aptiv PLC 53,703 4,046,521BorgWarner, Inc. 43,439 1,396,564Bridgestone Corp. 88,300 2,930,691Cheng Shin Rubber Industry

Company, Ltd. 226,730 248,374Cie Generale des Etablissements

Michelin SCA 9,367 948,041Continental AG 15,791 1,561,614Cooper Tire & Rubber Company 6,372 163,952Cooper-Standard Holdings, Inc. (A) 2,255 23,655Dana, Inc. 56,900 719,216Delphi Technologies PLC (A)(B) 23,074 297,193Denso Corp. 67,316 2,592,882Dorman Products, Inc. (A) 3,414 238,707Faurecia SE (A) 3,997 154,971Fox Factory Holding Corp. (A)(B) 4,762 343,388Fuyao Glass Industry Group

Company, Ltd., H Shares (C) 59,500 131,397Gentex Corp. 67,817 1,793,081Gentherm, Inc. (A) 4,185 170,330Hankook Tire & Technology

Company, Ltd. 15,120 287,373Hanon Systems 36,140 284,960Hyundai Mobis Company, Ltd. 13,304 2,133,122JTEKT Corp. 32,600 263,939Koito Manufacturing Company, Ltd. 16,176 688,026LCI Industries 3,079 304,605Lear Corp. 14,752 1,564,450Linamar Corp. 510 14,165Magna International, Inc. 50,841 2,143,900Modine Manufacturing Company (A) 6,486 34,700Motorcar Parts of America, Inc. (A) 2,427 38,395Nexteer Automotive Group, Ltd. 117,982 64,788NGK Spark Plug Company, Ltd. 24,500 396,395Nokian Renkaat OYJ 16,111 375,284Pirelli & C. SpA (A)(C) 38,916 175,143Standard Motor Products, Inc. 2,640 112,332Stanley Electric Company, Ltd. 20,300 495,933Stoneridge, Inc. (A)(B) 3,377 69,499Sumitomo Electric Industries, Ltd. 118,000 1,380,539Sumitomo Rubber Industries, Ltd. 25,800 263,543Tenneco, Inc., Class A (A) 6,760 45,698The Goodyear Tire & Rubber Company 62,346 474,453The Yokohama Rubber Company, Ltd. 18,500 280,492Toyoda Gosei Company, Ltd. 10,000 214,677Toyota Industries Corp. 22,829 1,172,924Valeo SA 13,150 325,053


68


COMMON STOCKS (continued)Auto components (continued)Visteon Corp. (A) 11,032 $ 794,304

33,643,032Automobiles – 1.0%Astra International Tbk PT 2,029,808 664,279BAIC Motor Corp., Ltd., H Shares (C) 219,700 89,061Bayerische Motoren Werke AG 48,037 2,815,264Brilliance China Automotive

Holdings, Ltd. 390,300 343,606BYD Company, Ltd., H Shares (B) 80,694 463,100Daimler AG 131,902 4,914,866Dongfeng Motor Group Company, Ltd.,

H Shares 351,680 222,484Ferrari NV 12,211 2,076,191Fiat Chrysler Automobiles NV (A) 112,850 1,007,243Ford Motor Company 819,149 4,677,341Ford Otomotiv Sanayi AS 4,107 37,305Geely Automobile Holdings, Ltd. 643,000 888,441General Motors Company 264,494 6,845,105Great Wall Motor Company, Ltd.,

H Shares 396,250 252,360Guangzhou Automobile Group

Company, Ltd., H Shares 375,346 310,876Harley-Davidson, Inc. 32,457 692,632Honda Motor Company, Ltd. 253,627 6,604,089Hyundai Motor Company 29,728 2,363,625Isuzu Motors, Ltd. 86,200 809,647Kia Motors Corp. 52,615 1,463,041Mazda Motor Corp. 87,480 564,728Mitsubishi Motors Corp. 99,900 283,002NIO, Inc., ADR (A)(B) 83,900 333,922Nissan Motor Company, Ltd. 357,825 1,356,058Peugeot SA (A) 32,808 470,972Renault SA 10,408 235,935Subaru Corp. 95,600 2,117,990Suzuki Motor Corp. 57,100 1,990,487Thor Industries, Inc. (B) 14,798 1,275,588Toyota Motor Corp. 354,800 22,360,305Volkswagen AG 4,598 731,557Winnebago Industries, Inc. (B) 3,922 213,357Yamaha Motor Company, Ltd. 44,400 643,146

70,117,603Distributors – 0.1%Core-Mark Holding Company, Inc. 5,743 160,689Funko, Inc., Class A (A) 2,907 16,425Genuine Parts Company 33,711 2,811,835Jardine Cycle & Carriage, Ltd. 4,954 76,918LKQ Corp. (A) 71,107 1,952,598Pool Corp. 10,733 2,887,392Weyco Group, Inc. 819 15,291

7,921,148Diversified consumer services – 0.2%Adtalem Global Education, Inc. (A) 21,168 708,281American Public Education, Inc. (A) 1,929 60,628Benesse Holdings, Inc. 11,000 298,440Carriage Services, Inc. 2,089 39,106Chegg, Inc. (A) 14,971 914,429China East Education Holdings, Ltd. (C) 69,500 137,335China Education Group Holdings, Ltd. 74,000 128,628Cogna Educacao 179,780 177,209Collectors Universe, Inc. 1,163 25,865Graham Holdings Company, Class B 1,166 417,696Grand Canyon Education, Inc. (A) 12,928 1,261,644H&R Block, Inc. 35,464 602,888Houghton Mifflin Harcourt Company (A) 14,381 22,003


COMMON STOCKS (continued)Diversified consumer services (continued)K12, Inc. (A) 4,972 $ 122,411Laureate Education, Inc., Class A (A) 14,333 139,460New Oriental Education & Technology

Group, Inc., ADR (A) 18,300 2,195,268OneSpaWorld Holdings, Ltd. 5,961 38,985Perdoceo Education Corp. (A) 8,737 142,238Regis Corp. (A) 3,022 31,791Service Corp. International 49,001 1,932,109Strategic Education, Inc. 2,696 457,322TAL Education Group, ADR (A) 49,462 2,792,625WW International, Inc. (A) 18,361 438,828

13,085,189Hotels, restaurants and leisure – 1.8%Accor SA (A) 9,576 270,712Alsea SAB de CV (A) 70,200 59,232Altus San Nicolas Corp. (A)(D) 4,667 479AmRest Holdings SE (A) 5,395 35,331Aristocrat Leisure, Ltd. 74,632 1,287,341BBX Capital Corp. 8,990 16,092BJ’s Restaurants, Inc. 2,499 54,278Bloomin’ Brands, Inc. 11,118 126,856Boyd Gaming Corp. 31,697 677,682Brinker International, Inc. 14,781 389,479Caesars Entertainment Corp. (A) 149,626 1,704,240Carnival Corp. (B) 84,608 1,331,730Carnival PLC 15,216 200,948Carrols Restaurant Group, Inc. (A) 4,789 20,545Century Casinos, Inc. (A) 3,676 20,108Chipotle Mexican Grill, Inc. (A) 4,645 4,663,162Choice Hotels International, Inc. (B) 8,516 688,348Churchill Downs, Inc. 13,944 1,849,950Chuy’s Holdings, Inc. (A) 2,167 34,650Compass Group PLC 140,768 2,063,573Cracker Barrel Old Country Store, Inc. 9,497 1,017,414Crown Resorts, Ltd. 49,399 316,520Darden Restaurants, Inc. 23,694 1,821,121Dave & Buster’s Entertainment, Inc. 4,027 53,116Del Taco Restaurants, Inc. (A) 3,975 24,248Denny’s Corp. (A) 7,468 80,990Dine Brands Global, Inc. (B) 2,034 92,323Domino’s Pizza, Inc. 7,024 2,710,140Drive Shack, Inc. (A) 8,467 15,071Dunkin’ Brands Group, Inc. 22,209 1,418,489El Pollo Loco Holdings, Inc. (A) 2,551 35,382Eldorado Resorts, Inc. (A)(B) 25,873 917,457Everi Holdings, Inc. (A) 10,282 63,851Fiesta Restaurant Group, Inc. (A) 3,156 25,974Flight Centre Travel Group, Ltd. 18,022 157,990Flutter Entertainment PLC 10,928 1,394,565Flutter Entertainment PLC (London

Stock Exchange) 8,894 1,131,548Galaxy Entertainment Group, Ltd. 262,000 1,790,910Genting BHD 227,400 209,663Genting Malaysia BHD 312,560 167,030Genting Singapore, Ltd. 288,400 160,702Golden Entertainment, Inc. (A) 2,302 28,073GVC Holdings PLC 52,130 511,748Haidilao International

Holding, Ltd. (B)(C) 46,000 223,767Hilton Worldwide Holdings, Inc. 51,257 4,065,193Huazhu Group, Ltd., ADR (B) 16,900 571,558InterContinental Hotels Group PLC 15,466 742,275Jack in the Box, Inc. (B) 9,274 621,543Jollibee Foods Corp. 59,480 127,925Kangwon Land, Inc. 23,502 461,692


69


COMMON STOCKS (continued)Hotels, restaurants and leisure (continued)Las Vegas Sands Corp. 61,390 $ 2,943,037Lindblad Expeditions Holdings, Inc. (A) 3,068 24,084Marriott International, Inc., Class A 49,296 4,362,696Marriott Vacations Worldwide Corp. 15,273 1,371,974McDonald’s Corp. 136,808 25,490,067McDonald’s Holdings Company

Japan, Ltd. 10,100 537,486Melco Resorts &

Entertainment, Ltd., ADR 26,500 424,795MGM Resorts International 93,552 1,607,223Minor International PCL, NVDR (A)(B) 286,000 167,474Monarch Casino & Resort, Inc. (A) 1,481 59,447Nathan’s Famous, Inc. 394 22,076Noodles & Company (A) 3,801 22,274Norwegian Cruise Line

Holdings, Ltd. (A)(B) 45,254 708,678Oriental Land Company, Ltd. (B) 31,000 4,503,337Papa John’s International, Inc. (B) 8,707 678,188Penn National Gaming, Inc. (A)(B) 49,670 1,629,673PlayAGS, Inc. (A) 3,636 18,944RCI Hospitality Holdings, Inc. 1,166 16,895Red Robin Gourmet Burgers, Inc. (A) 1,739 24,103Red Rock Resorts, Inc., Class A 8,964 123,703Restaurant Brands International, Inc. 48,720 2,661,669Royal Caribbean Cruises, Ltd. (B) 31,227 1,619,697Ruth’s Hospitality Group, Inc. 3,631 29,447Sands China, Ltd. 292,052 1,147,207Scientific Games Corp. (A)(B) 21,614 339,988SeaWorld Entertainment, Inc. (A)(B) 6,009 108,523Shake Shack, Inc., Class A (A)(B) 3,683 204,591Six Flags Entertainment Corp. (B) 21,073 484,258SJM Holdings, Ltd. 230,384 257,418Sodexo SA 4,807 324,304Starbucks Corp. 214,543 16,732,209Tabcorp Holdings, Ltd. 260,043 559,601Target Hospitality Corp. (A) 5,122 12,190Texas Roadhouse, Inc. 25,861 1,340,893The Cheesecake Factory, Inc. (B) 16,338 350,940The Wendy’s Company 49,337 1,048,905TUI AG 41,078 224,004Twin River Worldwide Holdings, Inc. 2,254 47,131Whitbread PLC 11,916 373,727Wingstop, Inc. 3,709 452,313Wyndham Destinations, Inc. 24,316 773,249Wyndham Hotels & Resorts, Inc. 25,513 1,171,812Wynn Macau, Ltd. 184,550 316,094Wynn Resorts, Ltd. 17,552 1,461,731Yum China Holdings, Inc. 45,808 2,122,743Yum! Brands, Inc. 54,945 4,930,215

120,284,027Household durables – 0.8%Arcelik AS (A) 12,151 28,126Barratt Developments PLC 92,149 569,997Bassett Furniture Industries, Inc. 1,485 9,504Beazer Homes USA, Inc. (A) 3,803 37,345Casio Computer Company, Ltd. 30,100 531,587Cavco Industries, Inc. (A) 1,090 207,307Century Communities, Inc. (A)(B) 3,608 106,580Coway Company, Ltd. 10,226 550,682D.R. Horton, Inc. 53,578 2,962,863Electrolux AB, Series B 33,104 545,814Ethan Allen Interiors, Inc. 3,043 34,386Flexsteel Industries, Inc. 1,126 11,181Garmin, Ltd. 23,084 2,081,484GoPro, Inc., Class A (A) 16,382 77,159


COMMON STOCKS (continued)Household durables (continued)Green Brick Partners, Inc. (A) 3,107 $ 33,245Haier Electronics Group Company, Ltd. 160,200 448,541Hamilton Beach Brands Holding

Company, Class A 892 8,519Hamilton Beach Brands Holding

Company, Class B 765 7,306Helen of Troy, Ltd. (A) 9,916 1,803,919Hooker Furniture Corp. 1,547 25,216Husqvarna AB, B Shares 61,084 452,983Iida Group Holdings Company, Ltd. 23,000 341,843Installed Building Products, Inc. (A) 2,870 184,484iRobot Corp. (A) 3,512 258,905KB Home 33,906 1,121,610La-Z-Boy, Inc. 5,695 146,475Leggett & Platt, Inc. 21,028 643,247Lennar Corp., A Shares 44,719 2,703,711LG Electronics, Inc. 21,277 1,023,034LGI Homes, Inc. (A)(B) 2,530 211,053M/I Homes, Inc. (A) 3,424 114,636MDC Holdings, Inc. 6,343 215,599Meritage Homes Corp. (A) 4,573 317,824Mohawk Industries, Inc. (A) 9,499 885,307Newell Brands, Inc. 60,885 800,638Nien Made Enterprise Company, Ltd. 20,300 174,449Nikon Corp. 49,700 457,438NVR, Inc. (A) 555 1,787,994Panasonic Corp. 344,220 3,083,831Persimmon PLC 28,588 815,442PulteGroup, Inc. 40,701 1,382,613Purple Innovation, Inc. (A) 1,069 15,329Rinnai Corp. 5,100 430,860SEB SA 1,181 162,858Sekisui Chemical Company, Ltd. 57,100 800,376Sekisui House, Ltd. 96,700 1,845,919Sharp Corp. 33,140 360,889Skyline Champion Corp. (A) 6,377 158,405Sonos, Inc. (A) 10,197 110,739Sony Corp. 197,700 12,804,205Tatung Company, Ltd. (A) 229,000 158,438Taylor Morrison Home Corp. (A) 51,971 1,004,599Taylor Wimpey PLC 296,714 531,497Tempur Sealy International, Inc. (A)(B) 12,180 794,501The Berkeley Group Holdings PLC 10,754 547,827The Lovesac Company (A)(B) 1,184 21,679Toll Brothers, Inc. 32,360 1,045,552TopBuild Corp. (A)(B) 4,219 483,877TRI Pointe Group, Inc. (A) 54,807 784,836Tupperware Brands Corp. 6,421 20,740Universal Electronics, Inc. (A) 1,708 77,270Whirlpool Corp. (B) 10,098 1,230,138ZAGG, Inc. (A) 3,851 11,495

50,605,906Internet and direct marketing retail – 2.7%1-800-Flowers.com, Inc., Class A (A) 3,148 69,697Alibaba Group Holding, Ltd., ADR (A) 223,256 46,301,062Amazon.com, Inc. (A) 34,665 84,664,756B2W Cia Digital (A) 20,800 357,119Baozun, Inc., ADR (A)(B) 5,600 148,344Booking Holdings, Inc. (A) 3,484 5,711,739CJ ENM Company, Ltd. 2,164 212,476Delivery Hero SE (A)(C) 16,331 1,571,241eBay, Inc. 63,649 2,898,575Etsy, Inc. (A) 31,765 2,572,330Expedia Group, Inc. 11,632 924,511Groupon, Inc. (A) 57,949 73,885


70


COMMON STOCKS (continued)Internet and direct marketing retail (continued)GrubHub, Inc. (A)(B) 24,516 $ 1,391,038JD.com, Inc., ADR (A) 94,800 5,150,484Just Eat Takeaway.com NV (A)(C) 18,915 2,059,367Liquidity Services, Inc. (A) 3,619 20,664Meituan Dianping, Class B (A) 130,100 2,477,889Mercari, Inc. (A) 11,900 356,129Naspers, Ltd., N Shares 55,343 9,009,451Ocado Group PLC (A) 40,141 1,091,731Overstock.com, Inc. (A) 4,472 82,151PetMed Express, Inc. (B) 2,447 88,337Pinduoduo, Inc., ADR (A)(B) 24,800 1,658,376Prosus NV (A) 80,246 6,695,908Quotient Technology, Inc. (A) 9,617 66,934Rakuten, Inc. 133,342 1,214,001Shutterstock, Inc. 2,427 92,032Stamps.com, Inc. (A)(B) 2,086 413,341Stitch Fix, Inc., Class A (A)(B) 5,251 121,403The RealReal, Inc. (A)(B) 6,613 88,680The Rubicon Project, Inc. (A) 12,414 77,836Trip.com Group, Ltd., ADR (A) 60,600 1,610,142Vipshop Holdings, Ltd., ADR (A) 56,600 981,444Waitr Holdings, Inc. (A) 8,000 19,760Zalando SE (A)(C) 20,078 1,365,282ZOZO, Inc. 16,800 309,843

181,947,958Leisure products – 0.2%Acushnet Holdings Corp. (B) 4,400 147,048Bandai Namco Holdings, Inc. 30,900 1,717,938Brunswick Corp. 21,869 1,203,014Callaway Golf Company (B) 11,809 180,914Clarus Corp. 3,076 32,299Escalade, Inc. 1,376 13,870Giant Manufacturing Company, Ltd. 36,661 287,545Hasbro, Inc. (B) 20,333 1,494,679HLB, Inc. (A) 7,297 668,909Johnson Outdoors, Inc., Class A 675 52,387Malibu Boats, Inc., Class A (A) 2,584 121,784Marine Products Corp. 989 11,126MasterCraft Boat Holdings, Inc. (A) 2,383 35,411Mattel, Inc. (A)(B) 92,948 856,051Polaris, Inc. 15,415 1,346,346Sankyo Company, Ltd. 6,584 169,832Sega Sammy Holdings, Inc. 26,700 348,513Shimano, Inc. 11,500 2,115,206Smith & Wesson Brands, Inc. (A) 6,840 80,849Sturm Ruger & Company, Inc. (B) 2,099 130,852Vista Outdoor, Inc. (A) 7,325 71,126Yamaha Corp. 22,300 1,087,905YETI Holdings, Inc. (A)(B) 8,851 284,117

12,457,721Multiline retail – 0.5%Big Lots, Inc. (B) 4,928 190,960Canadian Tire Corp., Ltd., Class A (B) 10,570 902,962Central Retail Corp. PCL, NVDR (A) 186,275 226,487Dillard’s, Inc., Class A (B) 3,917 117,549Dollar General Corp. 37,967 7,271,060Dollar Tree, Inc. (A) 35,292 3,454,028Dollarama, Inc. 51,068 1,731,383El Puerto de Liverpool SAB de CV,

Series C1 24,075 60,148Falabella SA 114,375 266,503Harvey Norman Holdings, Ltd. 73,474 159,440Hyundai Department Store

Company, Ltd. 2,840 147,120Isetan Mitsukoshi Holdings, Ltd. 51,640 346,592


COMMON STOCKS (continued)Multiline retail (continued)J Front Retailing Company, Ltd. 35,500 $ 302,194Kohl’s Corp. 23,346 448,710Lojas Renner SA 79,225 572,330Lotte Shopping Company, Ltd. 2,198 158,626Magazine Luiza SA 73,600 887,536Marks & Spencer Group PLC 174,787 212,225Marui Group Company, Ltd. 29,200 528,285Next PLC 11,816 714,586Nordstrom, Inc. (B) 15,974 257,661Ollie’s Bargain Outlet

Holdings, Inc. (A)(B) 14,660 1,340,657Pan Pacific International Holdings Corp. 68,400 1,379,251Ryohin Keikaku Company, Ltd. 37,100 562,638Shinsegae, Inc. 1,472 292,189Target Corp. 75,567 9,244,111Wesfarmers, Ltd. 147,004 3,959,452Woolworths Holdings, Ltd. 117,791 194,660

35,929,343Specialty retail – 2.0%Aaron’s, Inc. 26,562 980,403ABC-Mart, Inc. 4,967 301,709Abercrombie & Fitch Company,

Class A (B) 8,011 93,088Ace Hardware Indonesia Tbk PT (A) 632,000 67,329Advance Auto Parts, Inc. 11,537 1,607,335American Eagle Outfitters, Inc. 62,566 573,105America’s Car-Mart, Inc. (A) 785 62,462Asbury Automotive Group, Inc. (A)(B) 2,445 176,725At Home Group, Inc. (A)(B) 6,276 29,748AutoNation, Inc. (A) 15,785 623,192AutoZone, Inc. (A) 3,969 4,555,856Bed Bath & Beyond, Inc. (B) 49,546 360,199Best Buy Company, Inc. 37,934 2,962,266Boot Barn Holdings, Inc. (A)(B) 3,618 77,715Caleres, Inc. 5,123 36,732Camping World Holdings, Inc.,

Class A (B) 4,202 88,998CarMax, Inc. (A) 27,391 2,411,778Chico’s FAS, Inc. 15,263 20,605Citi Trends, Inc. 1,430 23,223Conn’s, Inc. (A)(B) 2,401 17,335Designer Brands, Inc., Class A (B) 7,945 48,703Dick’s Sporting Goods, Inc. 17,049 614,787Dufry AG (A) 5,072 151,789Express, Inc. (A) 8,531 16,721Fast Retailing Company, Ltd. 9,100 5,114,975Five Below, Inc. (A) 14,925 1,561,901Foot Locker, Inc. 28,695 794,852GameStop Corp., Class A (A)(B) 8,537 34,660Genesco, Inc. (A) 1,845 34,114GOME Retail Holdings, Ltd. (A)(B) 1,170,541 145,911Group 1 Automotive, Inc. (B) 2,237 140,797Guess?, Inc. (B) 5,904 56,501Haverty Furniture Companies, Inc. 2,323 40,188Hennes & Mauritz AB, B Shares 117,852 1,792,356Hibbett Sports, Inc. (A) 2,215 42,794Hikari Tsushin, Inc. 3,200 701,833Home Product Center PCL, NVDR 600,400 280,653Hotai Motor Company, Ltd. 37,000 663,633Hotel Shilla Company, Ltd. 6,245 401,373Hudson, Ltd., Class A (A) 5,308 26,752Industria de Diseno Textil SA 158,189 4,406,109JD Sports Fashion PLC 38,995 319,697Kingfisher PLC 191,070 463,724L Brands, Inc. 38,685 626,310


71


COMMON STOCKS (continued)Specialty retail (continued)Lithia Motors, Inc., Class A 2,835 $ 341,873Lowe’s Companies, Inc. 127,680 16,643,088Lumber Liquidators Holdings, Inc. (A) 3,693 36,708MarineMax, Inc. (A) 2,693 51,248Monro, Inc. (B) 4,146 228,445Mr. Price Group, Ltd. 31,093 231,432Murphy USA, Inc. (A) 11,429 1,326,907National Vision Holdings, Inc. (A)(B) 9,929 265,899Nitori Holdings Company, Ltd. 12,400 2,245,066Office Depot, Inc. 68,816 169,976OneWater Marine, Inc. Class A (A) 644 9,499O’Reilly Automotive, Inc. (A) 12,603 5,258,476Pepkor Holdings, Ltd. (C) 100,552 68,541Petrobras Distribuidora SA 70,100 284,273Rent-A-Center, Inc. 6,247 159,049RH (A)(B) 6,517 1,413,472Ross Stores, Inc. 60,258 5,842,616Sally Beauty Holdings, Inc. (A) 46,017 600,062Shimamura Company, Ltd. 3,400 239,412Shoe Carnival, Inc. 1,190 30,928Signet Jewelers, Ltd. (B) 6,642 70,073Sleep Number Corp. (A)(B) 3,549 110,622Sonic Automotive, Inc., Class A (B) 3,082 80,995Sportsman’s Warehouse

Holdings, Inc. (A) 5,367 59,949The Buckle, Inc. (B) 3,671 51,688The Cato Corp., Class A 2,895 28,082The Children’s Place, Inc. (B) 1,879 78,242The Foschini Group, Ltd. 28,631 102,661The Gap, Inc. (B) 35,443 315,443The Home Depot, Inc. 181,712 45,151,798The Michaels Companies, Inc. (A)(B) 10,225 39,469The TJX Companies, Inc. 202,009 10,657,995Tiffany & Company 17,982 2,304,034Tilly’s, Inc., Class A 2,845 14,566Topsports International

Holdings, Ltd. (C) 157,000 224,588Tractor Supply Company 19,721 2,406,356Ulta Beauty, Inc. (A) 9,522 2,323,463Urban Outfitters, Inc. (A) 18,911 320,352USS Company, Ltd. 33,600 585,887Williams-Sonoma, Inc. 20,806 1,731,267Winmark Corp. 317 45,607Yamada Denki Company, Ltd. 96,600 470,102Zhongsheng Group Holdings, Ltd. 72,100 373,033Zumiez, Inc. (A)(B) 2,552 62,192

136,606,370Textiles, apparel and luxury goods – 0.9%adidas AG (A) 26,104 6,922,973ANTA Sports Products, Ltd. 138,000 1,236,759Bosideng International Holdings, Ltd. 416,000 107,603Burberry Group PLC 36,589 683,241Carter’s, Inc. 11,835 1,016,745CCC SA 2,173 26,353Cie Financiere Richemont SA 65,320 3,839,489Columbia Sportswear Company (B) 7,784 568,699Crocs, Inc. (A) 8,738 250,344Culp, Inc. 1,613 12,436Deckers Outdoor Corp. (A) 11,047 2,016,409Eclat Textile Company, Ltd. 23,957 246,837EssilorLuxottica SA (A) 15,540 2,022,500Feng TAY Enterprise Company, Ltd. 39,997 241,878Fila Holdings Corp. 9,792 305,625Formosa Taffeta Company, Ltd. 104,000 118,586Fossil Group, Inc. (A) 6,349 19,364


COMMON STOCKS (continued)Textiles, apparel and luxury goods (continued)G-III Apparel Group, Ltd. (A)(B) 5,683 $ 58,705Gildan Activewear, Inc. (B) 35,815 496,834Hanesbrands, Inc. 57,791 569,819Hermes International 1,726 1,442,413Kering SA 4,171 2,186,688Kontoor Brands, Inc. 5,611 82,033Li Ning Company, Ltd. 252,500 855,405LPP SA 93 159,336LVMH Moet Hennessy Louis Vuitton SE 15,308 6,422,094Moncler SpA (A) 18,263 684,332Movado Group, Inc. 2,063 21,662NIKE, Inc., Class B 199,088 19,626,095Oxford Industries, Inc. (B) 2,133 90,908Pandora A/S 16,397 821,564Pou Chen Corp. 282,971 279,057Puma SE (A) 11,970 861,147PVH Corp. 11,846 538,638Ralph Lauren Corp. 7,946 600,002Rocky Brands, Inc. 896 18,583Ruentex Industries, Ltd. 43,079 93,843Shenzhou International Group

Holdings, Ltd. 96,200 1,157,614Skechers U.S.A., Inc., Class A (A) 35,900 1,124,388Steven Madden, Ltd. 10,639 250,229Superior Group of Companies, Inc. 1,458 14,595Tapestry, Inc. 44,088 599,597The Swatch Group AG 5,729 224,413The Swatch Group AG, Bearer

Shares (B) 3,747 755,886Under Armour, Inc., Class A (A)(B) 30,080 263,200Under Armour, Inc., Class C (A) 31,080 244,289Unifi, Inc. (A) 1,904 26,142Vera Bradley, Inc. (A) 2,784 14,616VF Corp. 52,326 2,935,489Wolverine World Wide, Inc. 10,104 211,578Yue Yuen Industrial Holdings, Ltd. 88,500 127,434

63,494,469726,092,766

Consumer staples – 6.5%Beverages – 1.3%Ambev SA 477,205 1,116,039Anadolu Efes Biracilik Ve Malt Sanayii

AS (A) 14,043 38,175Anheuser-Busch InBev SA/NV 43,472 2,028,626Arca Continental SAB de CV 58,142 259,659Asahi Group Holdings, Ltd. 56,361 2,120,854Brown-Forman Corp., Class B 21,298 1,404,177Budweiser Brewing Company

APAC, Ltd. (B)(C) 160,200 451,582Carlsberg A/S, Class B 17,545 2,274,066Carlsberg Brewery Malaysia BHD 15,900 105,910Celsius Holdings, Inc. (A) 3,886 36,023China Resources Beer Holdings

Company, Ltd. 187,699 1,000,927Cia Cervecerias Unidas SA 22,471 162,496Coca-Cola Amatil, Ltd. 65,021 380,240Coca-Cola Bottlers Japan Holdings, Inc. 18,900 375,290Coca-Cola Consolidated, Inc. (B) 597 145,328Coca-Cola European Partners PLC 37,541 1,415,296Coca-Cola Femsa SAB de CV 71,158 313,199Coca-Cola HBC AG 17,826 451,401Constellation Brands, Inc., Class A 19,579 3,381,293Craft Brew Alliance, Inc. (A) 1,491 22,529Davide Campari-Milano SpA 58,480 477,197Diageo PLC 208,059 7,259,149


72


COMMON STOCKS (continued)Beverages (continued)Fomento Economico Mexicano SAB

de CV 259,986 $ 1,759,151Fraser & Neave Holdings BHD 14,600 109,333Heineken Holding NV 18,744 1,541,282Heineken NV 42,535 3,895,808Kirin Holdings Company, Ltd. 127,527 2,617,423MGP Ingredients, Inc. (B) 1,659 62,229Molson Coors Beverage Company,

Class B 21,959 833,564Monster Beverage Corp. (A) 44,627 3,209,128National Beverage Corp. (A)(B) 1,494 85,128New Age Beverages Corp. (A)(B) 10,271 15,509Osotspa PCL, NVDR 75,700 101,468PepsiCo, Inc. 163,006 21,443,439Pernod Ricard SA 11,653 1,815,965Primo Water Corp. 2,967 35,693Remy Cointreau SA 1,189 141,440Suntory Beverage & Food, Ltd. 21,400 875,800The Boston Beer Company, Inc.,

Class A (A) 3,522 1,988,979The Coca-Cola Company 450,761 21,041,523Treasury Wine Estates, Ltd. 93,931 603,927Tsingtao Brewery Company, Ltd.,

H Shares 49,700 345,88887,742,133

Food and staples retailing – 1.6%Aeon Company, Ltd. 101,100 2,240,423Alimentation Couche-Tard, Inc., Class B 148,487 4,648,139Atacadao SA 38,400 133,054Berli Jucker PCL, NVDR (B) 120,800 161,620BGF retail Company, Ltd. 1,538 207,553Bid Corp., Ltd. 41,220 581,855BIM Birlesik Magazalar AS 26,545 253,108BJ’s Wholesale Club Holdings, Inc. (A) 46,858 1,686,888Carrefour SA 33,073 503,228Casey’s General Stores, Inc. 9,861 1,575,098Casino Guichard Perrachon SA (A)(B) 2,838 106,913Cencosud SA 219,539 256,458Cia Brasileira de Distribuicao 15,900 187,655Clicks Group, Ltd. 32,104 426,346Coles Group, Ltd. 173,069 1,771,708Colruyt SA 3,019 182,223Costco Wholesale Corp. 66,545 20,527,136CP ALL PCL, NVDR 595,200 1,321,877Dairy Farm International Holdings, Ltd. 40,400 170,726Dino Polska SA (A)(C) 3,466 158,135E-MART, Inc. 4,116 378,602Empire Company, Ltd., Class A 30,414 688,310FamilyMart Company, Ltd. 39,400 738,599George Weston, Ltd. 13,420 969,425GS Retail Company, Ltd. 5,302 182,715HF Foods Group, Inc. (A)(B) 2,845 20,370ICA Gruppen AB 13,019 613,167Ingles Markets, Inc., Class A 1,785 76,059J Sainsbury PLC 159,412 382,244Jeronimo Martins SGPS SA (A) 31,923 544,341Koninklijke Ahold Delhaize NV 180,629 4,579,654Lawson, Inc. 7,500 416,069Loblaw Companies, Ltd. (B) 31,935 1,580,920METRO AG 25,336 236,995Metro, Inc. 44,191 1,842,937Natural Grocers by Vitamin Cottage, Inc. 1,215 17,496Performance Food Group Company (A) 16,192 431,517Pick n Pay Stores, Ltd. 44,526 135,061President Chain Store Corp. 69,274 682,531


COMMON STOCKS (continued)Food and staples retailing (continued)PriceSmart, Inc. 2,845 $ 154,711Raia Drogasil SA 23,186 475,512Rite Aid Corp. (A)(B) 7,017 92,133Seven & i Holdings Company, Ltd. 116,946 4,011,374Shoprite Holdings, Ltd. 58,114 342,551SpartanNash Company 4,539 97,180Sprouts Farmers Market, Inc. (A) 31,671 795,892Sun Art Retail Group, Ltd. 303,300 466,864Sundrug Company, Ltd. 11,000 370,538Sysco Corp. 76,855 4,239,322Tesco PLC 870,679 2,472,297The Andersons, Inc. (B) 4,056 52,566The Chefs’ Warehouse, Inc. (A) 3,160 46,768The Kroger Company 120,801 3,940,529The SPAR Group, Ltd. (B) 23,021 230,154Tsuruha Holdings, Inc. 5,700 843,930United Natural Foods, Inc. (A)(B) 6,784 132,966Village Super Market, Inc., Class A 1,075 25,725Walgreens Boots Alliance, Inc. 112,933 4,849,343Wal-Mart de Mexico SAB de CV 694,600 1,738,497Walmart, Inc. 213,681 26,509,265Weis Markets, Inc. 1,194 66,542Welcia Holdings Company, Ltd. 7,300 614,203Wm Morrison Supermarkets PLC 218,407 506,716Woolworths Group, Ltd. 163,687 3,855,886

108,548,619Food products – 1.7%a2 Milk Company, Ltd. (A) 44,641 528,620Ajinomoto Company, Inc. 68,000 1,160,121Alico, Inc. 699 22,431Archer-Daniels-Midland Company 65,075 2,558,098Associated British Foods PLC 31,968 723,052B&G Foods, Inc. (B) 7,994 185,621Barry Callebaut AG 368 742,230BRF SA (A) 57,610 249,708Calavo Growers, Inc. (B) 2,067 120,940Calbee, Inc. 12,300 356,161Cal-Maine Foods, Inc. (A) 3,985 177,572Campbell Soup Company 19,747 1,006,702Charoen Pokphand Foods PCL, NVDR 404,400 401,519Charoen Pokphand Indonesia Tbk PT 727,303 288,421China Huishan Dairy Holdings

Company, Ltd. (A)(D) 280,500 0China Mengniu Dairy Company, Ltd. (A) 352,353 1,270,857Chocoladefabriken Lindt &

Spruengli AG 13 1,133,628Chocoladefabriken Lindt & Spruengli

AG, Participation Certificates 133 1,114,143CJ CheilJedang Corp. 1,643 394,839Conagra Brands, Inc. 56,888 1,979,134Dali Foods Group Company, Ltd. (C) 260,300 165,569Danone SA 33,915 2,333,368Darling Ingredients, Inc. (A) 64,654 1,507,085Farmer Brothers Company (A) 1,604 12,367Flowers Foods, Inc. 51,600 1,217,244Fresh Del Monte Produce, Inc. 3,891 96,847Freshpet, Inc. (A) 4,348 335,579General Mills, Inc. 70,652 4,453,902Genting Plantations BHD 27,900 64,957Gruma SAB de CV, Class B 27,923 277,045Grupo Bimbo SAB de CV, Series A 214,300 335,156Hormel Foods Corp. 32,505 1,587,219Hostess Brands, Inc. (A)(B) 15,167 183,142Indofood CBP Sukses Makmur Tbk PT 226,900 126,885Indofood Sukses Makmur Tbk PT 441,617 174,279


73


COMMON STOCKS (continued)Food products (continued)Ingredion, Inc. 17,898 $ 1,507,549IOI Corp. BHD 199,100 208,531J&J Snack Foods Corp. (B) 1,915 246,326JBS SA 110,481 454,860John B. Sanfilippo & Son, Inc. 1,083 94,156Kellogg Company 29,106 1,900,913Kerry Group PLC, Class A 19,604 2,428,950Kerry Group PLC, Class A (London

Stock Exchange) 2,564 313,557Kikkoman Corp. 22,600 1,140,315Kuala Lumpur Kepong BHD 45,200 228,976Lamb Weston Holdings, Inc. 17,073 1,025,404Lancaster Colony Corp. (B) 7,690 1,180,107Landec Corp. (A) 3,382 36,086Limoneira Company 2,118 28,296McCormick & Company, Inc. 14,445 2,530,186MEIJI Holdings Company, Ltd. 17,700 1,336,574Mondelez International, Inc., Class A 168,311 8,772,369Mowi ASA 27,318 514,891Nestle Malaysia BHD 6,400 204,960Nestle SA 373,067 40,506,496NH Foods, Ltd. 12,800 473,612Nisshin Seifun Group, Inc. 30,600 477,605Nissin Foods Holdings Company, Ltd. 9,817 822,883Orion Corp. 4,686 499,708Orkla ASA 47,605 427,576Ottogi Corp. 245 109,298Pilgrim’s Pride Corp. (A) 14,050 290,414Post Holdings, Inc. (A) 17,818 1,551,235PPB Group BHD 59,920 239,545QL Resources BHD 63,400 147,443Sanderson Farms, Inc. 7,800 1,029,756Saputo, Inc. 42,815 1,051,989Seneca Foods Corp., Class A (A) 849 30,963Sime Darby Plantation BHD 215,800 246,726Standard Foods Corp. 50,402 106,660Thai Union Group PCL, NVDR 344,000 148,320The Hain Celestial Group, Inc. (A) 21,537 677,985The Hershey Company 17,337 2,352,284The J.M. Smucker Company (B) 13,332 1,518,915The Kraft Heinz Company 72,802 2,218,277The Simply Good Foods Company (A) 10,461 178,151Tiger Brands, Ltd. 19,960 178,530Tingyi Cayman Islands Holding Corp. 251,100 432,286Tootsie Roll Industries, Inc. (B) 6,750 240,435Toyo Suisan Kaisha, Ltd. 13,600 712,677TreeHouse Foods, Inc. (A) 15,070 794,340Tyson Foods, Inc., Class A 34,506 2,120,049Uni-President China Holdings, Ltd. 164,900 171,460Uni-President Enterprises Corp. 592,805 1,438,882Universal Robina Corp. 119,650 309,586Vitasoy International Holdings, Ltd. 90,000 335,938Want Want China Holdings, Ltd. 633,912 459,674WH Group, Ltd. (C) 1,162,270 1,011,110Wilmar International, Ltd. 89,600 253,129Yakult Honsha Company, Ltd. 18,500 1,136,497Yamazaki Baking Company, Ltd. 18,600 333,442Yihai International Holding, Ltd. (A) 60,500 543,872

117,015,195Household products – 0.7%Central Garden & Pet Company (A) 1,319 48,394Central Garden & Pet Company,

Class A (A) 5,024 172,122Church & Dwight Company, Inc. 17,550 1,317,479Colgate-Palmolive Company 61,292 4,433,250


COMMON STOCKS (continued)Household products (continued)Energizer Holdings, Inc. (B) 17,247 $ 756,798Essity AB, B Shares (A) 88,752 2,939,516Henkel AG & Company KGaA 15,052 1,210,510Kimberly-Clark Corp. 24,515 3,467,402Kimberly-Clark de Mexico SAB de CV,

Class A 199,135 310,002Lion Corp. 34,400 792,075Oil-Dri Corp. of America 678 24,022Pigeon Corp. 17,800 696,034Reckitt Benckiser Group PLC 62,842 5,628,534The Clorox Company 8,975 1,851,094The Procter & Gamble Company 178,349 20,674,216Unicharm Corp. 62,588 2,337,088Unilever Indonesia Tbk PT 736,925 391,611WD-40 Company 1,728 331,517

47,381,664Personal products – 0.6%Amorepacific Corp. 6,391 844,194AMOREPACIFIC Group 5,768 270,467Beiersdorf AG 14,440 1,516,765BellRing Brands, Inc. Class A (A) 5,048 101,364Coty, Inc., Class A 21,136 76,724Edgewell Personal Care Company (A) 21,387 650,593elf Beauty, Inc. (A) 3,334 57,145Hengan International Group

Company, Ltd. 91,100 750,215Inter Parfums, Inc. 2,236 103,773Kao Corp. 74,800 6,021,415Kobayashi Pharmaceutical

Company, Ltd. 7,600 679,914Kose Corp. 5,200 654,847LG Household & Health Care, Ltd. 1,863 2,064,823Lifevantage Corp. (A) 1,786 27,344L’Oreal SA 13,820 4,053,563Medifast, Inc. (B) 1,402 143,481Natura & Company Holding SA 65,380 455,527Nature’s Sunshine Products, Inc. (A) 1,235 11,980Nu Skin Enterprises, Inc., Class A 14,891 553,647Pola Orbis Holdings, Inc. 13,900 271,718Revlon, Inc., Class A (A)(B) 1,018 10,424Shiseido Company, Ltd. 62,100 3,809,836The Estee Lauder Companies, Inc.,

Class A 15,916 3,142,933Unilever NV 241,157 12,462,493Unilever PLC 98,425 5,284,790USANA Health Sciences, Inc. (A) 1,581 133,942

44,153,917Tobacco – 0.6%22nd Century Group, Inc. (A) 16,034 13,281Altria Group, Inc. 218,376 8,527,583British American Tobacco PLC 203,371 8,065,776Gudang Garam Tbk PT 49,282 164,665Hanjaya Mandala Sampoerna Tbk PT 930,000 123,888Imperial Brands PLC 84,216 1,536,114Japan Tobacco, Inc. 186,000 3,691,389KT&G Corp. 23,201 1,574,613Philip Morris International, Inc. 181,876 13,342,423Swedish Match AB 24,730 1,725,981Turning Point Brands, Inc. 1,069 25,645Universal Corp. 3,045 134,163Vector Group, Ltd. (B) 13,969 159,666

39,085,187443,926,715

Energy – 3.7%


74


COMMON STOCKS (continued)Energy equipment and services – 0.2%Apergy Corp. (A) 20,766 $ 188,348Archrock, Inc. 16,431 104,337Baker Hughes Company 133,546 2,204,844Cactus, Inc., Class A 6,057 115,568China Oilfield Services, Ltd., H Shares 209,700 183,595Dialog Group BHD 368,912 339,244DMC Global, Inc. (B) 1,845 52,675Dril-Quip, Inc. (A)(B) 4,640 141,010Era Group, Inc. (A) 2,640 13,226Exterran Corp. (A) 3,927 25,211Frank’s International NV (A) 14,445 32,501Geospace Technologies Corp. (A) 1,842 14,515Halliburton Company 180,381 2,119,477Helix Energy Solutions Group, Inc. (A) 18,558 62,355Liberty Oilfield Services, Inc., Class A 7,129 36,714Matrix Service Company (A) 3,540 39,011Nabors Industries, Ltd. (B) 958 35,503National Energy Services Reunited

Corp. (A) 3,206 18,210National Oilwell Varco, Inc. 79,282 988,647Natural Gas Services Group, Inc. (A) 2,093 13,102Newpark Resources, Inc. (A) 12,226 24,697NexTier Oilfield Solutions, Inc. (A) 20,727 60,108Oceaneering International, Inc. (A) 12,983 83,351Oil States International, Inc. (A) 8,256 35,005ProPetro Holding Corp. (A) 10,392 51,440RPC, Inc. (A) 7,926 25,205Schlumberger, Ltd. 284,482 5,254,383SEACOR Holdings, Inc. (A) 2,251 60,327Select Energy Services, Inc., Class A (A) 7,776 46,189Solaris Oilfield Infrastructure, Inc.,

Class A 4,145 28,725TechnipFMC PLC 86,362 639,079Tenaris SA 47,255 297,389Tidewater, Inc. (A) 5,625 26,831Transocean, Ltd. (A)(B) 154,187 205,069U.S. Silica Holdings, Inc. 9,939 29,320Worley, Ltd. 43,075 241,965

13,837,176Oil, gas and consumable fuels – 3.5%Adaro Energy Tbk PT 1,468,045 110,958Aker BP ASA 6,534 105,617Ampol, Ltd. 32,415 586,434Antero Midstream Corp. 79,625 380,608Apache Corp. 77,270 833,743Arch Resources, Inc. (B) 1,932 63,679Ardmore Shipping Corp. 4,386 25,614Banpu PCL, NVDR 421,500 82,923Berry Corp. 8,288 35,141Bonanza Creek Energy, Inc. (A) 2,439 41,219BP PLC 1,795,544 6,866,050Brigham Minerals, Inc., Class A 3,675 48,694Bukit Asam Tbk PT (A) 342,000 45,770Cabot Oil & Gas Corp. 83,825 1,663,088California Resources Corp. (A)(B) 7,070 9,403Callon Petroleum Company (A) 50,745 33,933Cameco Corp. 68,120 740,150Canadian Natural Resources, Ltd. 201,975 3,689,343Cenovus Energy, Inc. 179,565 782,504Chevron Corp. 388,561 35,631,044China Coal Energy Company, Ltd.,

H Shares 268,900 64,769China Petroleum & Chemical Corp.,

H Shares 3,268,139 1,524,816


COMMON STOCKS (continued)Oil, gas and consumable fuels (continued)China Shenhua Energy Company, Ltd.,

H Shares 434,400 $ 795,692Cimarex Energy Company 27,293 717,260Clean Energy Fuels Corp. (A) 17,531 36,640CNOOC, Ltd. 2,295,116 2,622,080CNX Resources Corp. (A)(B) 73,647 750,463Comstock Resources, Inc. (A) 2,080 11,149Concho Resources, Inc. 41,310 2,252,221ConocoPhillips 225,481 9,510,789CONSOL Energy, Inc. (A) 3,368 22,936Cosan SA (A) 16,194 199,834COSCO SHIPPING Energy

Transportation Company, Ltd.,H Shares 153,300 76,411

CVR Energy, Inc. (B) 3,759 76,684Delek US Holdings, Inc. (B) 9,379 184,485Denbury Resources, Inc. (A) 67,038 14,279Devon Energy Corp. 79,522 859,633DHT Holdings, Inc. 13,740 81,616Diamond S Shipping, Inc. (A) 3,399 37,219Diamondback Energy, Inc. 33,115 1,410,037Dorian LPG, Ltd. (A) 3,412 28,047Ecopetrol SA 736,806 393,095Empresas COPEC SA 58,950 371,936Enbridge, Inc. 344,628 11,208,514Energy Fuels, Inc. (A)(B) 13,196 22,697Eni SpA 256,896 2,336,351EOG Resources, Inc. 119,549 6,093,413EQT Corp. 68,533 914,230Equinor ASA 62,483 911,229Equitrans Midstream Corp. 55,321 447,547Evolution Petroleum Corp. 4,109 10,026Exxaro Resources, Ltd. 31,480 223,297Exxon Mobil Corp. 869,463 39,534,483Falcon Minerals Corp. 5,703 14,200Formosa Petrochemical Corp. 150,900 442,212Galp Energia SGPS SA 64,402 766,267GasLog, Ltd. 5,536 18,988Golar LNG, Ltd. (B) 12,137 96,246Goodrich Petroleum Corp. (A) 1,356 10,902Green Plains, Inc. (A) 4,554 38,937Grupa Lotos SA 6,509 96,664GS Holdings Corp. 10,330 315,296Gulfport Energy Corp. (A) 20,852 31,487Hess Corp. 53,221 2,526,401HollyFrontier Corp. 30,510 959,540Husky Energy, Inc. 60,906 171,635Idemitsu Kosan Company, Ltd. 30,228 672,989Imperial Oil, Ltd. 46,012 718,828Inner Mongolia Yitai Coal

Company, Ltd., Class B 135,100 79,216Inpex Corp. 159,700 1,118,261Inter Pipeline, Ltd. (B) 72,403 663,109International Seaways, Inc. 3,152 71,487IRPC PCL, NVDR 1,068,000 90,993JXTG Holdings, Inc. 475,150 1,836,422Keyera Corp. (B) 37,681 597,160Kinder Morgan, Inc. 400,271 6,324,282Koninklijke Vopak NV 11,376 622,983Laredo Petroleum, Inc. (A) 24,078 20,430Lundin Energy AB 26,861 655,365Magnolia Oil & Gas Corp.,

Class A (A)(B) 13,146 72,960Marathon Oil Corp. 164,377 877,773Marathon Petroleum Corp. 133,431 4,688,765


75


COMMON STOCKS (continued)Oil, gas and consumable fuels (continued)Matador Resources Company (A) 43,586 $ 341,714MOL Hungarian Oil & Gas PLC (B) 68,613 434,472Montage Resources Corp. (A) 2,854 17,466Murphy Oil Corp. 40,043 478,514NACCO Industries, Inc., Class A 481 12,641Neste OYJ 55,134 2,246,650Noble Energy, Inc. 98,285 858,028Nordic American Tankers, Ltd. (B) 17,458 79,783Northern Oil and Gas, Inc. (A) 39,172 30,527Oasis Petroleum, Inc. (A) 44,137 20,330Occidental Petroleum Corp. (B) 183,567 2,377,193Oil Search, Ltd. 249,895 581,010OMV AG 30,395 1,004,367ONEOK, Inc. 84,887 3,114,504Origin Energy, Ltd. 227,951 896,057Overseas Shipholding Group, Inc.,

Class A (A) 8,273 18,283Ovintiv, Inc. 44,837 338,024Panhandle Oil and Gas, Inc., Class A 2,551 10,663Par Pacific Holdings, Inc. (A) 4,620 42,920Parkland Corp. 25,825 726,255PBF Energy, Inc., Class A 27,309 290,022PDC Energy, Inc. (A) 12,798 155,880Peabody Energy Corp. 8,820 27,783Pembina Pipeline Corp. 93,769 2,342,778Penn Virginia Corp. (A) 1,871 16,427PetroChina Company, Ltd., H Shares 2,689,239 927,768Petroleo Brasileiro SA 372,409 1,454,379Petronas Dagangan BHD 29,700 160,581Phillips 66 91,313 7,146,155Pioneer Natural Resources Company 34,039 3,117,972Polski Koncern Naftowy ORLEN SA 21,548 359,564Polskie Gornictwo Naftowe i

Gazownictwo SA 122,686 128,915PrairieSky Royalty, Ltd. 38,537 254,142PTT Exploration & Production

PCL, NVDR 143,300 380,227PTT PCL, NVDR 1,173,300 1,312,975QEP Resources, Inc. 32,077 27,381Renewable Energy Group, Inc. (A)(B) 4,626 131,610Repsol SA 204,508 1,925,458REX American Resources Corp. (A) 722 42,345Ring Energy, Inc. (A) 8,910 10,603Royal Dutch Shell PLC, A Shares 372,870 5,901,798Royal Dutch Shell PLC, B Shares 328,465 5,014,627Santos, Ltd. 229,965 823,835Scorpio Tankers, Inc. (B) 5,599 99,326SFL Corp., Ltd. (B) 10,098 100,172SK Innovation Company, Ltd. 10,992 1,058,542SM Energy Company (B) 14,492 51,012S-Oil Corp. 8,837 507,216Southwestern Energy Company (A)(B) 68,928 207,473Suncor Energy, Inc. 261,912 4,502,638Talos Energy, Inc. (A) 2,660 32,319TC Energy Corp. 159,607 7,192,951Teekay Corp. (A) 9,092 26,640Teekay Tankers, Ltd., Class A (A)(B) 2,974 51,688Tellurian, Inc. (A)(B) 13,454 13,453Thai Oil PCL, NVDR 110,800 150,495The Williams Companies, Inc. 249,068 5,088,459TOTAL SA 132,204 5,013,279Tupras Turkiye Petrol Rafinerileri AS (A) 7,798 98,088Ultrapar Participacoes SA 72,202 231,640United Tractors Tbk PT 166,437 179,142Uranium Energy Corp. (A) 24,107 25,312


COMMON STOCKS (continued)Oil, gas and consumable fuels (continued)Valero Energy Corp. 84,386 $ 5,623,483W&T Offshore, Inc. (A) 12,422 32,421Washington H. Soul Pattinson &

Company, Ltd. (B) 15,557 197,289Whiting Petroleum Corp. (A) 13,297 9,307Woodside Petroleum, Ltd. 121,160 1,827,998World Fuel Services Corp. 25,699 654,811WPX Energy, Inc. (A) 111,496 632,182Yanzhou Coal Mining Company, Ltd.,

H Shares 216,010 165,832239,475,385253,312,561

Financials – 13.8%Banks – 6.5%1st Constitution Bancorp 1,256 16,1271st Source Corp. 1,741 60,221ABN AMRO Bank NV (C) 69,009 549,086Absa Group, Ltd. 86,231 400,983ACNB Corp. 1,043 25,908Agricultural Bank of China, Ltd.,

H Shares 3,747,400 1,520,813AIB Group PLC (A) 113,097 124,738Akbank T.A.S. (A) 181,562 151,956Allegiance Bancshares, Inc. 2,414 61,823Amalgamated Bank, Class A 1,871 21,011Amerant Bancorp, Inc. (A) 2,522 32,887American National Bankshares, Inc. 1,413 35,127Ameris Bancorp 7,767 188,194Ames National Corp. 1,213 24,381AMMB Holdings BHD 178,700 130,575Aozora Bank, Ltd. 18,670 346,728Arrow Financial Corp. 1,585 46,361Associated Banc-Corp. 42,717 598,465Atlantic Capital Bancshares, Inc. (A) 2,873 32,752Atlantic Union Bankshares Corp. 10,117 234,209Australia & New Zealand Banking

Group, Ltd. 367,163 4,369,795Banc of California, Inc. 5,795 63,455BancFirst Corp. 2,369 90,306Banco Bilbao Vizcaya Argentaria SA 966,401 2,976,375Banco Bradesco SA 133,676 445,896Banco de Chile 6,810,994 578,730Banco de Credito e Inversiones SA 7,536 255,154Banco de Sabadell SA 823,755 252,368Banco do Brasil SA 87,094 503,341Banco Espirito Santo SA (A) 322,715 516Banco Santander Brasil SA 41,326 197,480Banco Santander Chile 9,470,756 385,740Banco Santander SA 2,404,212 5,496,789Bancolombia SA 32,687 219,082BancorpSouth Bank 38,234 849,942Bangkok Bank PCL, NVDR 51,200 176,138Bank Central Asia Tbk PT 971,730 1,729,083Bank First Corp. 729 45,453Bank Hapoalim BM 135,460 833,967Bank Leumi Le-Israel BM 173,234 920,121Bank Mandiri Persero Tbk PT 1,833,356 563,397Bank Millennium SA (A) 39,008 24,422Bank Negara Indonesia Persero Tbk PT 779,953 205,294Bank of America Corp. 1,501,632 36,219,364Bank of China, Ltd., H Shares 10,195,122 3,747,540Bank of Commerce Holdings 2,414 18,419Bank of Communications

Company, Ltd., H Shares 1,092,976 665,938Bank of Hawaii Corp. 10,797 694,571


76


COMMON STOCKS (continued)Banks (continued)Bank of Ireland Group PLC (A) 141,792 $ 253,244Bank of Marin Bancorp 1,695 57,037Bank of Montreal 109,871 5,419,936Bank of the Philippine Islands 126,687 166,296Bank OZK (B) 32,407 728,833Bank Polska Kasa Opieki SA 12,572 164,074Bank Rakyat Indonesia Persero Tbk PT 5,441,610 1,101,843Bank Tabungan Negara Persero Tbk PT 433,800 22,660BankFinancial Corp. 2,021 18,351Bankia SA 181,468 159,787Bankinter SA 96,053 408,065Bankwell Financial Group, Inc. 968 14,172Banner Corp. 4,440 166,766Bar Harbor Bankshares 1,996 39,361Barclays PLC 1,524,279 2,179,029Baycom Corp. (A) 1,510 19,902BCB Bancorp, Inc. 1,979 18,979BDO Unibank, Inc. 267,790 532,171Bendigo & Adelaide Bank, Ltd. 68,407 280,966Berkshire Hills Bancorp, Inc. 5,799 62,745BNK Financial Group, Inc. 59,724 245,859BNP Paribas SA (A) 63,032 2,268,233BOC Hong Kong Holdings, Ltd. 450,500 1,268,884Boston Private Financial Holdings, Inc. 10,546 72,451Bridge Bancorp, Inc. 2,103 44,794Brookline Bancorp, Inc. 9,956 92,591Bryn Mawr Bank Corp. 2,532 70,314Business First Bancshares, Inc. 1,729 25,053Byline Bancorp, Inc. 3,126 37,981C&F Financial Corp. 465 16,759Cadence BanCorp 15,993 129,064CaixaBank SA 513,812 955,814Cambridge Bancorp 628 36,424Camden National Corp. 1,882 63,122Canadian Imperial Bank of Commerce 77,030 4,939,520Capital Bancorp, Inc. (A) 1,128 12,837Capital City Bank Group, Inc. 1,721 35,022Capitec Bank Holdings, Ltd. 5,505 267,019Capstar Financial Holdings, Inc. 2,094 24,123Carter Bank & Trust 3,104 21,914Cathay General Bancorp 29,906 813,144CBTX, Inc. 2,401 49,028CenterState Bank Corp. 15,238 240,760Central Pacific Financial Corp. 3,551 57,207Central Valley Community Bancorp 1,514 22,801Century Bancorp, Inc., Class A 372 28,049Chang Hwa Commercial Bank, Ltd. 681,746 428,137Chemung Financial Corp. 506 12,812China CITIC Bank Corp., Ltd., H Shares 1,126,400 492,242China Construction Bank Corp.,

H Shares 12,352,296 9,742,173China Everbright Bank Company, Ltd.,

H Shares 410,595 167,200China Merchants Bank Company, Ltd.,

H Shares 498,174 2,347,426China Minsheng Banking Corp., Ltd.,

H Shares 880,200 614,563Chongqing Rural Commercial Bank

Company, Ltd., H Shares 326,800 125,923CIMB Group Holdings BHD 514,200 446,725CIT Group, Inc. 25,394 460,647Citigroup, Inc. 404,955 19,401,394Citizens & Northern Corp. 1,593 30,554Citizens Financial Group, Inc. 80,633 1,943,255City Holding Company 1,930 121,397


COMMON STOCKS (continued)Banks (continued)Civista Bancshares, Inc. 2,009 $ 30,617CNB Financial Corp. 1,907 33,792Coastal Financial Corp. (A) 1,099 13,957Codorus Valley Bancorp, Inc. 1,320 17,490Colony Bankcorp, Inc. 1,099 13,979Columbia Banking System, Inc. (B) 9,083 221,262Comerica, Inc. 26,737 971,890Commerce Bancshares, Inc. 27,803 1,771,885Commerzbank AG (A) 141,638 549,122Commonwealth Bank of Australia 230,451 9,785,880Community Bank System, Inc. 6,349 377,258Community Bankers Trust Corp. 3,075 17,312Community Trust Bancorp, Inc. 1,881 61,772Concordia Financial Group, Ltd. 167,400 548,823ConnectOne Bancorp, Inc. 4,356 63,859Credicorp, Ltd. (B) 10,700 1,474,674Credit Agricole SA (A) 66,136 580,619CrossFirst Bankshares, Inc. (A) 6,172 60,054CTBC Financial Holding Company, Ltd. 2,285,090 1,523,086Cullen/Frost Bankers, Inc. (B) 15,263 1,159,530Customers Bancorp, Inc. (A) 3,685 40,867CVB Financial Corp. 16,691 325,641Danske Bank A/S (A) 106,661 1,323,187DBS Group Holdings, Ltd. 80,972 1,120,206Dime Community Bancshares, Inc. 3,952 57,027DNB ASA 60,821 830,075E.Sun Financial Holding Company, Ltd. 1,284,646 1,144,002Eagle Bancorp, Inc. 4,118 133,258East West Bancorp, Inc. 39,039 1,364,413Enterprise Bancorp, Inc. 1,175 27,072Enterprise Financial Services Corp. 3,059 89,843Equity Bancshares, Inc., Class A (A) 1,999 32,604Erste Group Bank AG 62,750 1,387,960Esquire Financial Holdings, Inc. (A) 940 16,102Evans Bancorp, Inc. 676 16,521Farmers & Merchants Bancorp, Inc. 1,123 24,403Farmers National Banc Corp. 3,217 37,800FB Financial Corp. (B) 2,195 51,824Fidelity D&D Bancorp, Inc. 366 13,904Fifth Third Bancorp 131,636 2,552,422Financial Institutions, Inc. 1,988 35,168FinecoBank Banca Fineco SpA (A) 61,067 715,299First Bancorp (North Carolina) 3,697 93,978First Bancorp (Puerto Rico) 27,276 149,200First Bank 2,415 18,040First Busey Corp. 6,434 115,233First Business Financial Services, Inc. 1,141 18,884First Capital, Inc. 405 24,887First Choice Bancorp 1,371 19,263First Commonwealth Financial Corp. 12,185 99,673First Community Bankshares, Inc. 2,261 48,318First Financial Bancorp 12,349 164,118First Financial Bankshares, Inc. (B) 52,726 1,615,525First Financial Corp. 1,611 56,546First Financial Holding Company, Ltd. 1,207,439 920,793First Financial Northwest, Inc. 1,245 12,164First Foundation, Inc. 4,926 73,397First Horizon National Corp. (B) 83,422 779,996First Internet Bancorp 1,288 20,711First Interstate BancSystem, Inc.,

Class A 4,727 147,719First Merchants Corp. 6,766 189,854First Mid Bancshares, Inc. 1,846 46,981First Midwest Bancorp, Inc. 13,458 175,627First Northwest Bancorp 1,303 17,669


77


COMMON STOCKS (continued)Banks (continued)First Republic Bank 31,259 $ 3,381,286Flushing Financial Corp. 3,529 40,019FNB Corp. 87,107 645,463FNCB Bancorp, Inc. 2,310 12,844Franklin Financial Network, Inc. 1,682 41,478Franklin Financial Services Corp. 596 14,900Fukuoka Financial Group, Inc. 27,400 445,881Fulton Financial Corp. 64,183 719,491FVCBankcorp, Inc. (A) 1,737 19,333German American Bancorp, Inc. 3,059 94,768Glacier Bancorp, Inc. 10,887 448,436Great Southern Bancorp, Inc. 1,382 56,054Great Western Bancorp, Inc. 7,124 101,446Grupo Financiero Banorte SAB de CV,

Series O 343,750 1,047,163Grupo Financiero Inbursa SAB de CV,

Series O (A) 300,800 205,647Guaranty Bancshares, Inc. 1,026 26,081Hana Financial Group, Inc. 60,305 1,457,071Hancock Whitney Corp. 34,373 743,144Hang Seng Bank, Ltd. 91,895 1,411,367Hanmi Financial Corp. 3,974 35,885HarborOne Bancorp, Inc. (A) 3,595 28,652Hawthorn Bancshares, Inc. 793 15,622HBT Financial, Inc. 1,205 15,328Heartland Financial USA, Inc. 4,408 141,100Heritage Commerce Corp. 6,985 56,788Heritage Financial Corp. 4,629 87,951Hilltop Holdings, Inc. 8,797 164,416Home BancShares, Inc. 61,189 885,405HomeTrust Bancshares, Inc. 2,092 32,259Hong Leong Bank BHD 69,500 217,740Hong Leong Financial Group BHD 25,500 78,761Hope Bancorp, Inc. 15,269 144,979Horizon Bancorp, Inc. 4,782 49,063Howard Bancorp, Inc. (A) 1,852 19,094HSBC Holdings PLC 1,799,614 8,287,805Hua Nan Financial Holdings

Company, Ltd. 944,108 613,405Huntington Bancshares, Inc. 191,567 1,703,031IBERIABANK Corp. 6,630 281,178Independent Bank Corp. (Massachusetts) 4,161 289,065Independent Bank Corp. (Michigan) 2,780 38,420Independent Bank Group, Inc. 4,528 171,521Industrial & Commercial Bank of

China, Ltd., H Shares 8,320,623 5,389,416Industrial Bank of Korea 54,901 368,746ING Groep NV 640,612 4,165,005International Bancshares Corp. 22,387 689,072Intesa Sanpaolo SpA (A) 1,503,555 2,616,290Investar Holding Corp. 1,331 17,370Investors Bancorp, Inc. 28,508 247,449Israel Discount Bank, Ltd., Class A 145,054 460,560Itau CorpBanca Chile SA 20,146,516 46,817Japan Post Bank Company, Ltd. (B) 59,200 489,905JPMorgan Chase & Co. 581,779 56,612,914Kasikornbank PCL, NVDR (B) 187,400 568,241KB Financial Group, Inc. 79,318 2,164,675KBC Group NV 13,904 729,504KeyCorp 182,694 2,164,924Komercni banka AS (A) 10,382 222,472Krung Thai Bank PCL, NVDR 377,300 123,723Lakeland Bancorp, Inc. 6,201 68,831Lakeland Financial Corp. 3,048 130,119LCNB Corp. 1,599 23,777


COMMON STOCKS (continued)Banks (continued)Level One Bancorp, Inc. 782 $ 14,709Live Oak Bancshares, Inc. (B) 3,437 46,537Lloyds Banking Group PLC 6,235,931 2,299,830M&T Bank Corp. 24,477 2,586,240Macatawa Bank Corp. 3,440 25,422Mackinac Financial Corp. 1,342 14,104MainStreet Bancshares, Inc. (A) 1,052 13,960Malayan Banking BHD 402,433 695,260Malvern Bancorp, Inc. (A) 1,166 13,852mBank SA (A) 1,149 61,373Mebuki Financial Group, Inc. 138,500 314,839Mediobanca Banca di Credito

Finanziario SpA (B) 63,604 418,409Mega Financial Holding Company, Ltd. 1,331,275 1,367,730Mercantile Bank Corp. 2,060 47,256Metrocity Bankshares, Inc. 2,100 24,276Metropolitan Bank & Trust Company 249,964 174,195Metropolitan Bank Holding Corp. (A) 953 26,684Mid Penn Bancorp, Inc. 923 17,223Midland States Bancorp, Inc. 2,854 42,724MidWestOne Financial Group, Inc. 1,535 29,457Mitsubishi UFJ Financial Group, Inc. 1,908,100 7,920,778Mizrahi Tefahot Bank, Ltd. 17,632 345,153Mizuho Financial Group, Inc. 3,745,900 4,675,414Moneta Money Bank AS (C) 71,159 158,253MVB Financial Corp. 1,306 18,545National Australia Bank, Ltd. 375,288 4,425,191National Bank Holdings Corp., Class A 3,706 97,468National Bank of Canada (B) 57,946 2,523,472National Bankshares, Inc. 847 26,088NBT Bancorp, Inc. 5,310 166,309Nedbank Group, Ltd. 47,438 268,501Nicolet Bankshares, Inc. (A) 1,157 64,688Nordea Bank ABP 471,257 3,209,655Northeast Bank 1,129 19,374Northrim BanCorp, Inc. 859 19,817Norwood Financial Corp. 785 19,225OceanFirst Financial Corp. 6,944 115,965OFG Bancorp 6,444 78,295Old National Bancorp 21,173 287,741Old Second Bancorp, Inc. 4,000 30,800Opus Bank 2,796 54,494Origin Bancorp, Inc. 2,554 53,276Orrstown Financial Services, Inc. 1,445 19,479OTP Bank NYRT (A)(B) 38,002 1,277,431Oversea-Chinese Banking Corp., Ltd. 156,178 948,242Pacific Mercantile Bancorp (A) 3,058 11,620Pacific Premier Bancorp, Inc. (B) 7,342 158,734PacWest Bancorp 32,125 556,084Park National Corp. 1,629 121,963Parke Bancorp, Inc. 1,337 18,611PCB Bancorp 1,781 16,065Peapack-Gladstone Financial Corp. 2,421 45,587Penns Woods Bancorp, Inc. 920 19,743Peoples Bancorp of North Carolina, Inc. 694 12,145Peoples Bancorp, Inc. 2,260 50,782Peoples Financial Services Corp. 885 29,249People’s United Financial, Inc. 82,378 943,228People’s Utah Bancorp 2,020 50,035Pinnacle Financial Partners, Inc. 19,294 768,866Postal Savings Bank of China

Company, Ltd., H Shares (C) 1,027,300 657,981Powszechna Kasa Oszczednosci Bank

Polski SA 63,183 349,557Preferred Bank 1,721 64,658


78


COMMON STOCKS (continued)Banks (continued)Premier Financial Bancorp, Inc. 1,719 $ 22,794Prosperity Bancshares, Inc. 25,308 1,654,890Public Bank BHD 322,962 1,090,457QCR Holdings, Inc. 1,869 56,762Raiffeisen Bank International AG 30,263 554,497RBB Bancorp 2,203 28,264Red River Bancshares, Inc. 640 25,760Regions Financial Corp. 178,925 2,023,642Reliant Bancorp, Inc. 1,453 20,342Renasant Corp. 7,036 169,708Republic Bancorp, Inc., Class A 1,212 38,845Republic First Bancorp, Inc. (A) 6,657 15,777Resona Holdings, Inc. 329,400 1,191,263RHB Bank BHD 161,341 177,241Richmond Mutual

Bancorporation, Inc. (A) 1,874 20,839Royal Bank of Canada 245,930 15,955,933S&T Bancorp, Inc. 4,740 105,418Sandy Spring Bancorp, Inc. 4,319 104,736Santander Bank Polska SA (A) 2,457 99,890SB One Bancorp 1,128 19,165Seacoast Banking Corp. of Florida (A) 6,390 138,983Security Bank Corp. 27,220 44,104Select Bancorp, Inc. (A) 2,414 18,105ServisFirst Bancshares, Inc. 5,954 207,676Seven Bank, Ltd. 90,500 258,656Shinhan Financial Group Company, Ltd. 91,074 2,226,016Shinsei Bank, Ltd. 30,800 393,944Shore Bancshares, Inc. 1,767 17,670Sierra Bancorp 1,844 34,741Signature Bank 14,473 1,489,416Simmons First National Corp.,

Class A (B) 12,008 205,937SinoPac Financial Holdings

Company, Ltd. 1,312,772 517,515Skandinaviska Enskilda Banken AB, A

Shares (A) 236,888 2,061,413SmartFinancial, Inc. 1,733 26,688Societe Generale SA (A) 46,723 691,166South State Corp. 4,212 221,425Southern First Bancshares, Inc. (A) 939 27,287Southern National Bancorp of

Virginia, Inc. 2,641 26,568Southside Bancshares, Inc. 3,944 111,221Spirit of Texas Bancshares, Inc. (A) 1,930 23,237Standard Bank Group, Ltd. 159,409 927,859Standard Chartered PLC 239,809 1,094,012Sterling Bancorp 54,165 666,230Stock Yards Bancorp, Inc. 2,494 84,871Sumitomo Mitsui Financial Group, Inc. 202,179 5,867,700Sumitomo Mitsui Trust Holdings, Inc. 49,338 1,459,662Summit Financial Group, Inc. 1,405 23,604SVB Financial Group (A) 9,565 2,054,084Svenska Handelsbanken AB, A

Shares (A) 225,249 2,127,706Swedbank AB, A Shares (A) 130,607 1,640,256Synovus Financial Corp. 39,286 753,898Taishin Financial Holding Company, Ltd. 1,147,296 498,105Taiwan Business Bank 625,307 221,163Taiwan Cooperative Financial Holding

Company, Ltd. 1,082,569 737,558TCF Financial Corp. 41,125 1,189,335Texas Capital Bancshares, Inc. (A) 13,490 360,992The Bancorp, Inc. (A) 6,436 56,637The Bank of East Asia, Ltd. 156,693 284,022


COMMON STOCKS (continued)Banks (continued)The Bank of Kyoto, Ltd. 8,300 $ 299,277The Bank of Nova Scotia 208,662 8,361,029The Bank of NT Butterfield & Son, Ltd. 6,678 163,144The Bank of Princeton 839 17,325The Chiba Bank, Ltd. 87,100 415,775The Community Financial Corp. 704 16,685The First Bancorp, Inc. 1,316 27,123The First Bancshares, Inc. 2,406 50,983The First of Long Island Corp. 2,939 44,879The PNC Financial Services Group, Inc. 81,275 9,268,601The Royal Bank of Scotland Group PLC 441,412 603,795The Shanghai Commercial & Savings

Bank, Ltd. 409,000 584,807The Shizuoka Bank, Ltd. 70,500 450,152The Siam Commercial Bank

PCL, NVDR 90,000 210,230The Toronto-Dominion Bank 308,814 13,228,638TMB Bank PCL, NVDR 2,464,700 89,490Tompkins Financial Corp. 1,783 114,736Towne Bank 8,387 158,179TriCo Bancshares 3,329 94,444TriState Capital Holdings, Inc. (A) 3,524 52,684Triumph Bancorp, Inc. (A) 2,896 71,097Truist Financial Corp. 248,755 9,149,209Trustmark Corp. 25,303 601,958Turkiye Garanti Bankasi AS (A) 151,071 173,250Turkiye Is Bankasi AS, Class C (A) 120,291 87,600U.S. Bancorp 263,633 9,374,789UMB Financial Corp. 17,170 880,478Umpqua Holdings Corp. 59,037 672,431UniCredit SpA (A) 202,812 1,736,103United Bankshares, Inc. 49,669 1,444,375United Community Banks, Inc. 9,928 194,092United Overseas Bank, Ltd. 58,157 805,502United Security Bancshares 2,023 12,401Unity Bancorp, Inc. 1,095 15,669Univest Financial Corp. 3,669 60,318Valley National Bancorp 153,958 1,228,585Veritex Holdings, Inc. 6,302 110,411Washington Trust Bancorp, Inc. 1,903 60,839Webster Financial Corp. 24,672 698,218Wells Fargo & Company 713,890 18,896,668WesBanco, Inc. 8,202 175,687West Bancorporation, Inc. 2,018 35,598Westamerica Bancorporation 3,227 190,328Westpac Banking Corp. 462,305 5,273,007Wintrust Financial Corp. 15,300 648,108Woori Financial Group, Inc. 107,121 790,465Zions Bancorp NA 31,616 1,040,324

443,890,451Capital markets – 2.5%3i Group PLC 89,241 913,244Affiliated Managers Group, Inc. 13,209 879,984Ameriprise Financial, Inc. 17,274 2,419,569Amundi SA (A)(C) 3,633 271,349Ares Management Corp., Class A 9,019 340,557Artisan Partners Asset Management, Inc.,

Class A 6,296 182,395Assetmark Financial Holdings, Inc. (A) 1,787 47,713Associated Capital Group, Inc., Class A 272 11,176ASX, Ltd. 25,346 1,493,844B. Riley Financial, Inc. 2,581 49,633B3 SA - Brasil Bolsa Balcao 209,076 1,784,647Banco BTG Pactual SA 25,900 237,047BlackRock, Inc. 20,785 10,987,782


79


COMMON STOCKS (continued)Capital markets (continued)Blucora, Inc. (A) 6,269 $ 76,168Brightsphere Investment Group, Inc. 8,338 69,622Brookfield Asset Management, Inc.,

Class A (B) 229,959 7,220,197Cboe Global Markets, Inc. 15,116 1,609,249China Cinda Asset Management

Company, Ltd., H Shares 1,211,100 225,599China Everbright, Ltd. 126,984 179,539China Galaxy Securities Company, Ltd.,

H Shares 482,100 233,674China Huarong Asset Management

Company, Ltd., H Shares (C) 1,354,200 139,300China International Capital Corp., Ltd.,

H Shares (A)(C) 175,000 285,544CI Financial Corp. 41,095 487,105CITIC Securities Company, Ltd.,

H Shares 267,100 485,096CME Group, Inc. 48,860 8,921,836Cohen & Steers, Inc. 2,868 182,261Cowen, Inc., Class A 3,652 47,732Credit Suisse Group AG 326,487 3,000,573Daiwa Securities Group, Inc. 240,118 1,000,436Deutsche Bank AG (A) 285,784 2,392,334Deutsche Boerse AG 27,593 4,543,236Diamond Hill Investment Group, Inc. 404 42,404Donnelley Financial Solutions, Inc. (A) 4,093 33,358E*TRADE Financial Corp. 30,802 1,402,723Eaton Vance Corp. 30,332 1,093,469Ellington Financial, Inc. 5,074 51,755Evercore, Inc., Class A 10,478 577,443FactSet Research Systems, Inc. 10,172 3,127,992Federated Hermes, Inc. 37,952 840,257Focus Financial Partners, Inc.,

Class A (A)(B) 3,923 109,216Franklin Resources, Inc. 38,028 717,588GAIN Capital Holdings, Inc. 2,437 15,304GF Securities Company, Ltd., H Shares 185,200 190,493Greenhill & Company, Inc. 2,082 20,758Guotai Junan Securities Company, Ltd.,

H Shares (C) 115,300 152,693Haitong Securities Company, Ltd.,

H Shares 374,700 286,456Hamilton Lane, Inc., Class A 2,773 202,900Hargreaves Lansdown PLC 30,300 690,437Hong Kong Exchanges & Clearing, Ltd. 145,977 5,137,424Houlihan Lokey, Inc. 5,284 319,576Huatai Securities Company, Ltd., H

Shares (C) 216,700 342,044IGM Financial, Inc. 17,188 408,213Interactive Brokers Group, Inc., Class A 20,575 871,351Intercontinental Exchange, Inc. 75,923 7,383,512INTL. FCStone, Inc. (A) 2,028 103,448Invesco, Ltd. 50,744 404,430Investec, Ltd. 52,112 91,660Janus Henderson Group PLC 41,717 899,419Japan Exchange Group, Inc. 79,598 1,717,321Julius Baer Group, Ltd. 28,442 1,224,087Korea Investment Holdings

Company, Ltd. 9,002 385,650Legg Mason, Inc. 21,874 1,089,981London Stock Exchange Group PLC 28,000 2,792,800Macquarie Group, Ltd. 44,068 3,241,214Magellan Financial Group, Ltd. 17,134 670,024MarketAxess Holdings, Inc. 5,171 2,629,919Meritz Securities Company, Ltd. 67,209 179,144


COMMON STOCKS (continued)Capital markets (continued)Mirae Asset Daewoo Company, Ltd. 85,618 $ 429,199Moelis & Company, Class A (B) 6,000 201,780Moody’s Corp. 22,138 5,919,923Morgan Stanley 158,788 7,018,430MSCI, Inc. 11,549 3,797,889Nasdaq, Inc. 15,644 1,853,188Natixis SA (A) 56,914 127,625NH Investment & Securities

Company, Ltd. 32,331 255,453Noah Holdings, Ltd., ADR (A)(B) 4,700 124,691Nomura Holdings, Inc. 522,800 2,253,177Northern Trust Corp. 28,889 2,282,520Oppenheimer Holdings, Inc., Class A 1,242 26,306Partners Group Holding AG 2,360 1,966,055Piper Sandler Companies 1,681 100,255PJT Partners, Inc., Class A 2,858 156,304Pzena Investment Management, Inc.,

Class A 2,550 10,404Raymond James Financial, Inc. 16,833 1,166,190Reinet Investments SCA 18,607 292,206S&P Global, Inc. 33,322 10,830,316Safeguard Scientifics, Inc. 2,771 17,540Samsung Securities Company, Ltd. 13,967 317,074SBI Holdings, Inc. 37,464 806,334Schroders PLC 12,094 445,011Sculptor Capital Management, Inc. 2,156 27,036SEI Investments Company 33,836 1,834,588Silvercrest Asset Management

Group, Inc., Class A 1,234 13,907Singapore Exchange, Ltd. 36,900 216,792St. James’s Place PLC 52,202 595,435Standard Life Aberdeen PLC 223,070 716,390State Street Corp. 49,578 3,022,275Stifel Financial Corp. 26,740 1,275,765T. Rowe Price Group, Inc. 31,861 3,851,995The Bank of New York Mellon Corp. 114,420 4,252,991The Charles Schwab Corp. 155,879 5,597,615The Goldman Sachs Group, Inc. 43,449 8,537,294UBS Group AG 486,967 5,213,282Virtus Investment Partners, Inc. 829 77,080Waddell & Reed Financial, Inc.,

Class A (B) 8,540 111,362Westwood Holdings Group, Inc. 1,087 19,273WisdomTree Investments, Inc. 17,498 52,319

165,978,173Consumer finance – 0.3%Acom Company, Ltd. 61,500 251,262AEON Financial Service Company, Ltd. 17,100 192,966American Express Company 91,485 8,697,479Capital One Financial Corp. 63,498 4,320,404Credit Saison Company, Ltd. 24,900 297,667Curo Group Holdings Corp. 2,090 13,982Discover Financial Services 42,739 2,030,530Encore Capital Group, Inc. (A) 3,915 124,380Enova International, Inc. (A) 4,131 58,454EZCORP, Inc., Class A (A) 6,625 34,185FirstCash, Inc. 16,675 1,163,415Green Dot Corp., Class A (A) 6,137 234,311Isracard, Ltd. 6,535 17,865LendingClub Corp. (A)(B) 8,794 47,048LendingTree, Inc. (A)(B) 2,056 534,601Muangthai Capital PCL, NVDR 64,000 112,617Navient Corp. 45,609 339,331Nelnet, Inc., Class A 2,275 112,135PRA Group, Inc. (A)(B) 5,721 195,201


80


COMMON STOCKS (continued)Consumer finance (continued)Regional Management Corp. (A) 1,144 $ 18,144Samsung Card Company, Ltd. 5,664 135,462SLM Corp. 113,175 857,867Srisawad Corp. PCL, NVDR (A) 75,700 136,059Synchrony Financial 76,952 1,567,512World Acceptance Corp. (A) 709 47,149

21,540,026Diversified financial services – 1.0%AMP, Ltd. (A) 441,166 481,076Banco Latinoamericano de Comercio

Exterior SA, Class E (B) 3,881 45,796Berkshire Hathaway, Inc., Class B (A) 266,695 49,493,258Cannae Holdings, Inc. (A) 9,336 343,845Chailease Holding Company, Ltd. 147,784 576,025Challenger, Ltd. 75,104 251,652Eurazeo SE (A) 2,112 102,980EXOR NV 11,359 612,799Far East Horizon, Ltd. 279,300 248,485FGL Holdings (B) 18,295 152,580FirstRand, Ltd. 420,020 964,569Groupe Bruxelles Lambert SA 4,602 373,508Grupo de Inversiones Suramericana SA 36,460 177,901Haci Omer Sabanci Holding AS 62,378 75,844Industrivarden AB, C Shares (A) 25,026 560,899Investor AB, B Shares 67,317 3,612,861Jefferies Financial Group, Inc. 64,125 939,431Kinnevik AB, B Shares 36,070 914,464L E Lundbergforetagen AB, B Shares (A) 11,399 568,718M&G PLC 231,388 402,710Metro Pacific Investments Corp. 1,982,900 113,599Mitsubishi UFJ Lease & Finance

Company, Ltd. 63,200 309,906NewStar Financial, Inc. (A)(D) 5,608 1,354Onex Corp. 15,342 719,938ORIX Corp. 209,300 2,769,766Pargesa Holding SA, Bearer Shares 4,616 350,561PSG Group, Ltd. 17,983 165,639Remgro, Ltd. 64,183 507,265RMB Holdings, Ltd. 91,749 279,455Tokyo Century Corp. 6,700 293,175Wendel SE 1,373 126,723Yuanta Financial Holding Company, Ltd. 1,234,187 669,721

67,206,503Insurance – 3.4%Admiral Group PLC 17,877 516,368Aegon NV 309,957 831,832Aflac, Inc. 142,129 5,183,445Ageas SA/NV 12,123 413,809AIA Group, Ltd. (B) 1,473,509 12,091,288Alleghany Corp. 3,858 1,979,540Allianz SE 61,340 11,117,026Ambac Financial Group, Inc. (A) 5,794 77,755American Equity Investment Life

Holding Company 11,392 247,092American Financial Group, Inc. 20,065 1,208,716American International Group, Inc. 168,450 5,063,607AMERISAFE, Inc. 2,376 145,839Aon PLC, Class A 45,336 8,928,925Argo Group International Holdings, Ltd. 4,168 127,916Arthur J. Gallagher & Company 36,116 3,405,016Assicurazioni Generali SpA 122,847 1,712,623Assurant, Inc. 11,740 1,204,289Aviva PLC 519,229 1,601,578AXA SA 117,011 2,147,024Baloise Holding AG 6,586 942,426


COMMON STOCKS (continued)Insurance (continued)BB Seguridade Participacoes SA 73,908 $ 350,129Benefytt Technologies, Inc. (A) 1,235 24,243Brighthouse Financial, Inc. (A) 29,292 870,265Brown & Brown, Inc. 62,691 2,520,178BRP Group, Inc., Class A (A) 2,371 29,400Cathay Financial Holding Company, Ltd. 983,890 1,314,713China Development Financial

Holding Corp. 1,696,000 514,988China Life Insurance Company, Ltd. 394,703 273,380China Life Insurance Company, Ltd.,

H Shares 987,076 1,870,432China Pacific Insurance Group

Company, Ltd., H Shares 355,979 989,445China Reinsurance Group Corp.,

H Shares 819,300 86,182China Taiping Insurance Holdings

Company, Ltd. 238,400 356,644Chubb, Ltd. 87,754 10,700,723Cincinnati Financial Corp. 29,418 1,734,191Citizens, Inc. (A)(B) 6,439 39,149CNO Financial Group, Inc. 59,238 850,065CNP Assurances (A) 19,945 211,011Crawford & Company, Class A 2,268 13,653Dai-ichi Life Holdings, Inc. 172,400 2,261,660DB Insurance Company, Ltd. 10,825 380,624Direct Line Insurance Group PLC 137,654 450,908Discovery, Ltd. 54,079 304,168Donegal Group, Inc., Class A 1,290 18,383eHealth, Inc. (A)(B) 2,880 375,610Employers Holdings, Inc. 3,983 119,052Enstar Group, Ltd. (A) 1,450 206,480Everest Re Group, Ltd. 7,897 1,566,844Fairfax Financial Holdings, Ltd. 4,747 1,318,651FBL Financial Group, Inc., Class A 1,225 43,745FedNat Holding Company 1,546 18,846First American Financial Corp. 30,115 1,520,506Fubon Financial Holding Company, Ltd. 836,659 1,183,971Genworth Financial, Inc., Class A (A) 198,985 606,904Gjensidige Forsikring ASA (A) 13,799 251,568Global Indemnity, Ltd. 1,057 25,643Globe Life, Inc. 19,290 1,485,716Goosehead Insurance, Inc.,

Class A (A)(B) 1,439 86,268Great-West Lifeco, Inc. (B) 56,796 924,840Greenlight Capital Re, Ltd., Class A (A) 4,080 29,539Hannover Rueck SE 9,297 1,501,446Hanwha Life Insurance Company, Ltd. 19,772 24,468HCI Group, Inc. 762 34,176Heritage Insurance Holdings, Inc. 3,328 41,733Horace Mann Educators Corp. 5,207 190,160Hyundai Marine & Fire Insurance

Company, Ltd. 13,075 256,776iA Financial Corp., Inc. 21,730 693,952Independence Holding Company 666 19,347Insurance Australia Group, Ltd. 306,870 1,253,089Intact Financial Corp. 24,317 2,321,405Investors Title Company 175 22,068IRB Brasil Resseguros SA 76,100 118,365James River Group Holdings, Ltd. 3,729 144,200Japan Post Holdings Company, Ltd. 251,600 1,835,328Japan Post Insurance Company, Ltd. 37,300 475,339Kemper Corp. 16,795 1,064,803Kinsale Capital Group, Inc. 2,569 383,603Legal & General Group PLC 570,067 1,407,456Liberty Holdings, Ltd. 22,881 81,351


81


COMMON STOCKS (continued)Insurance (continued)Lincoln National Corp. 38,403 $ 1,456,626Loews Corp. 49,530 1,646,377Mapfre SA 181,524 320,096Marsh & McLennan Companies, Inc. 97,719 10,350,396MBIA, Inc. (A)(B) 9,747 69,009Medibank Pvt., Ltd. 370,289 703,188Mercury General Corp. 7,271 292,512MetLife, Inc. 151,358 5,450,402Momentum Metropolitan Holdings 130,920 128,550MS&AD Insurance Group Holdings, Inc. 77,468 2,281,809Muenchener

Rueckversicherungs-Gesellschaft AG 21,371 4,873,423National General Holdings Corp. 8,563 173,829National Western Life Group, Inc.,

Class A 292 57,212New China Life Insurance

Company, Ltd., H Shares 117,600 369,194NI Holdings, Inc. (A) 1,291 19,352NN Group NV 53,181 1,632,394Old Mutual, Ltd. 623,295 399,950Old Republic International Corp. 76,499 1,192,619Palomar Holdings, Inc. (A) 2,279 169,603PICC Property & Casualty

Company, Ltd., H Shares 935,848 818,797Ping An Insurance Group Company of

China, Ltd., H Shares 719,110 7,116,398Porto Seguro SA 10,023 88,842Poste Italiane SpA (C) 54,857 485,361Power Corp. of Canada 102,717 1,671,851Powszechny Zaklad Ubezpieczen SA 47,928 357,108Primerica, Inc. 11,088 1,260,040Principal Financial Group, Inc. 50,003 1,931,116ProAssurance Corp. 6,799 93,826ProSight Global, Inc. (A) 1,202 10,650Protective Insurance Corp., Class B 1,245 17,206Prudential Financial, Inc. 77,839 4,745,065Prudential PLC 235,978 3,060,469QBE Insurance Group, Ltd. 198,778 1,171,202Rand Merchant Investment

Holdings, Ltd. 111,505 173,424Reinsurance Group of America, Inc. 16,785 1,523,239RenaissanceRe Holdings, Ltd. 11,839 1,987,295RLI Corp. 15,734 1,242,357RSA Insurance Group PLC 108,590 531,801Safety Insurance Group, Inc. 1,855 141,425Sampo OYJ, A Shares 59,902 2,152,309Samsung Fire & Marine

Insurance Company, Ltd. 6,281 928,134Samsung Life Insurance Company, Ltd. 15,339 568,751Sanlam, Ltd. 235,707 761,335SCOR SE (A) 9,425 236,356Selective Insurance Group, Inc. 23,318 1,223,029Shin Kong Financial Holding

Company, Ltd. 1,438,694 400,651Sompo Holdings, Inc. 53,860 1,921,275Sony Financial Holdings, Inc. 26,200 632,522State Auto Financial Corp. 2,216 44,187Stewart Information Services Corp. 2,966 91,412Sul America SA 30,994 260,495Sun Life Financial, Inc. 107,252 3,679,059Suncorp Group, Ltd. 168,988 1,042,123Swiss Life Holding AG 4,470 1,584,431Swiss Re AG 38,154 2,605,594T&D Holdings, Inc. 90,300 820,211The Allstate Corp. 62,727 6,135,328


COMMON STOCKS (continued)Insurance (continued)The Hanover Insurance Group, Inc. 10,560 $ 1,059,696The Hartford Financial Services

Group, Inc. 69,786 2,672,106The People’s Insurance Company Group

of China, Ltd., H Shares 1,137,900 344,215The Progressive Corp. 113,202 8,793,531The Travelers Companies, Inc. 49,978 5,346,646Third Point Reinsurance, Ltd. (A) 9,509 70,176Tiptree, Inc. 3,248 19,813Tokio Marine Holdings, Inc. 100,814 4,374,298Trupanion, Inc. (A) 3,667 110,450Tryg A/S 19,881 558,540United Fire Group, Inc. 2,709 72,682United Insurance Holdings Corp. 2,830 22,187Universal Insurance Holdings, Inc. 3,757 67,100Unum Group 39,939 605,076W.R. Berkley Corp. 28,094 1,628,047Watford Holdings, Ltd. (A) 2,372 35,034Willis Towers Watson PLC 24,896 5,051,398ZhongAn Online P&C Insurance

Company, Ltd., H Shares (A)(B)(C) 40,900 146,226Zurich Insurance Group AG 19,272 6,236,450

229,058,782Mortgage real estate investment trusts – 0.0%AG Mortgage Investment Trust, Inc. 4,407 10,841Anworth Mortgage Asset Corp. 13,036 19,033Apollo Commercial Real Estate

Finance, Inc. 19,501 160,493Ares Commercial Real Estate Corp. 3,959 29,495Arlington Asset Investment Corp.,

Class A 5,059 12,142ARMOUR Residential REIT, Inc. 7,550 59,117Blackstone Mortgage Trust, Inc., Class A 16,180 381,686Capstead Mortgage Corp. 11,925 60,341Cherry Hill Mortgage Investment Corp. 2,176 18,779Colony Credit Real Estate, Inc. 10,589 52,416Dynex Capital, Inc. 2,878 37,011Exantas Capital Corp. 4,336 8,672Granite Point Mortgage Trust, Inc. 7,084 34,853Great Ajax Corp. 2,252 18,466Invesco Mortgage Capital, Inc. 21,249 58,860KKR Real Estate Finance Trust, Inc. 3,016 48,829Ladder Capital Corp. 13,052 103,763New York Mortgage Trust, Inc. 48,025 99,892Orchid Island Capital, Inc. 8,153 33,998PennyMac Mortgage Investment Trust 12,484 137,449Ready Capital Corp. 4,734 27,789Redwood Trust, Inc. 14,251 76,243TPG RE Finance Trust, Inc. 6,390 47,350Western Asset Mortgage Capital Corp. 7,009 13,878

1,551,396Thrifts and mortgage finance – 0.1%Axos Financial, Inc. (A)(B) 7,316 159,489Bridgewater Bancshares, Inc. (A) 2,994 31,197Capitol Federal Financial, Inc. 16,331 191,481Columbia Financial, Inc. (A) 6,667 94,005ESSA Bancorp, Inc. 1,313 18,842Essent Group, Ltd. 40,970 1,354,059Federal Agricultural Mortgage Corp.,

Class C 1,141 73,172First Defiance Financial Corp. 4,728 78,532Flagstar Bancorp, Inc. 4,379 128,305FS Bancorp, Inc. 534 22,556Hingham Institution for Savings 179 29,383Home Bancorp, Inc. 1,015 24,116


82


COMMON STOCKS (continued)Thrifts and mortgage finance (continued)HomeStreet, Inc. (B) 2,808 $ 66,887Kearny Financial Corp. 10,092 86,488Luther Burbank Corp. 2,469 25,381Merchants Bancorp 1,159 19,796Meridian Bancorp, Inc. 6,206 71,493Meta Financial Group, Inc. 4,291 77,753MMA Capital Holdings, Inc. (A) 608 15,176Mr. Cooper Group, Inc. (A) 9,634 107,419New York Community Bancorp, Inc. 125,288 1,259,144NMI Holdings, Inc., Class A (A) 8,397 129,020Northfield Bancorp, Inc. 5,671 61,984Northwest Bancshares, Inc. 14,412 143,544Ocwen Financial Corp. (A) 19,801 14,637OP Bancorp 2,031 12,877PCSB Financial Corp. 2,177 29,085PennyMac Financial Services, Inc. 3,137 105,340Pioneer Bancorp, Inc. (A) 1,524 14,554Provident Bancorp, Inc. 1,379 11,749Provident Financial Holdings, Inc. 888 11,429Provident Financial Services, Inc. 7,749 100,969Prudential Bancorp, Inc. 1,269 15,507Radian Group, Inc. 25,557 405,845Riverview Bancorp, Inc. 2,947 14,735Southern Missouri Bancorp, Inc. 1,031 25,074Territorial Bancorp, Inc. 955 24,286Timberland Bancorp, Inc. 1,016 18,258TrustCo Bank Corp. 12,063 75,997Walker & Dunlop, Inc. 3,508 142,074Washington Federal, Inc. 30,703 793,980Waterstone Financial, Inc. 2,848 42,435Western New England Bancorp, Inc. 3,410 18,005WSFS Financial Corp. 6,439 178,167

6,324,225935,549,556

Health care – 12.6%Biotechnology – 2.0%3SBio, Inc. (A)(C) 162,300 194,30989bio, Inc. (A) 399 10,278AbbVie, Inc. 247,407 22,927,207Abeona Therapeutics, Inc. (A) 7,196 23,819ACADIA Pharmaceuticals, Inc. (A) 14,226 706,748Acceleron Pharma, Inc. (A) 5,689 562,244Achillion Pharmaceuticals, Inc. (A)(D) 17,157 7,892ADMA Biologics, Inc. (A) 9,251 30,436Aduro Biotech, Inc. (A) 8,631 28,223Adverum Biotechnologies, Inc. (A) 8,002 165,081Aeglea BioTherapeutics, Inc. (A) 3,436 30,271Affimed NV (A) 9,612 31,623Agenus, Inc. (A) 13,897 51,836Aimmune Therapeutics, Inc. (A)(B) 5,745 95,424Akcea Therapeutics, Inc. (A)(B) 1,647 24,540Akebia Therapeutics, Inc. (A) 14,985 174,425Akero Therapeutics, Inc. (A) 1,077 27,377Albireo Pharma, Inc. (A) 1,673 44,769Alder Biopharmaceuticals, Inc. (A)(B)(D) 9,683 14,302Aldeyra Therapeutics, Inc. (A) 3,222 15,852Alector, Inc. (A)(B) 4,374 143,030Alexion Pharmaceuticals, Inc. (A) 31,053 3,723,255Allakos, Inc. (A)(B) 2,461 159,965Allogene Therapeutics, Inc. (A)(B) 4,914 236,658Amgen, Inc. 83,378 19,151,927Amicus Therapeutics, Inc. (A) 32,417 404,402AnaptysBio, Inc. (A)(B) 3,179 60,655Anavex Life Sciences Corp. (A) 6,369 26,177Anika Therapeutics, Inc. (A) 1,700 57,001


COMMON STOCKS (continued)Biotechnology (continued)Apellis Pharmaceuticals, Inc. (A) 7,243 $ 244,017Applied Therapeutics, Inc. (A) 1,027 46,749Aprea Therapeutics, Inc. (A) 828 22,240Arcus Biosciences, Inc. (A) 4,100 128,535Arcutis Biotherapeutics, Inc. (A) 1,331 44,655Ardelyx, Inc. (A) 7,968 58,405Arena Pharmaceuticals, Inc. (A) 6,395 382,229Arrowhead Pharmaceuticals, Inc. (A)(B) 39,486 1,273,029Assembly Biosciences, Inc. (A) 3,633 70,807Atara Biotherapeutics, Inc. (A)(B) 6,632 76,268Athenex, Inc. (A)(B) 8,722 94,808Athersys, Inc. (A) 17,020 49,528Atreca, Inc., Class A (A) 2,212 40,856Avid Bioservices, Inc. (A) 7,191 41,995Avrobio, Inc. (A) 3,013 60,923Beam Therapeutics, Inc. (A) 1,575 40,241BeiGene, Ltd., ADR (A)(B) 4,700 778,038Beyondspring, Inc. (A) 1,690 28,730BioCryst Pharmaceuticals, Inc. (A)(B) 19,616 88,174Biogen, Inc. (A) 25,320 7,775,519Biohaven Pharmaceutical Holding

Company, Ltd. (A)(B) 5,424 338,837BioSpecifics Technologies Corp. (A) 781 48,578Bioxcel Therapeutics, Inc. (A) 874 40,693Black Diamond Therapeutics, Inc. (A) 1,533 59,864Blueprint Medicines Corp. (A) 6,780 441,649Bridgebio Pharma, Inc. (A)(B) 9,482 278,107Calithera Biosciences, Inc. (A) 7,181 41,793CareDx, Inc. (A)(B) 5,197 166,928CASI Pharmaceuticals, Inc. (A)(B) 6,786 17,915Castle Biosciences, Inc. (A) 1,205 46,308Catalyst Pharmaceuticals, Inc. (A) 12,263 52,854Celltrion, Inc. (A) 18,724 3,242,026Cellular Biomedicine Group, Inc. (A) 1,618 22,280CEL-SCI Corp. (A)(B) 4,153 55,359Checkpoint Therapeutics, Inc. (A) 5,024 10,651ChemoCentryx, Inc. (A) 5,144 320,934Chimerix, Inc. (A) 6,379 19,902Clovis Oncology, Inc. (A)(B) 6,471 44,779Coherus Biosciences, Inc. (A) 7,920 147,629Concert Pharmaceuticals, Inc. (A) 3,499 37,159Constellation

Pharmaceuticals, Inc. (A)(B) 2,372 84,277Corbus Pharmaceuticals

Holdings, Inc. (A)(B) 8,431 62,895Cortexyme, Inc. (A)(B) 1,440 66,370Crinetics Pharmaceuticals, Inc. (A) 1,463 23,905CSL, Ltd. 58,971 10,921,056Cue Biopharma, Inc. (A) 2,519 69,726Cyclerion Therapeutics, Inc. (A) 3,224 12,832Cytokinetics, Inc. (A)(B) 7,062 146,254CytomX Therapeutics, Inc. (A) 5,785 51,255Deciphera Pharmaceuticals, Inc. (A) 2,647 155,035Denali Therapeutics, Inc. (A)(B) 6,614 184,068Dicerna Pharmaceuticals, Inc. (A) 6,766 145,943Dynavax Technologies Corp. (A)(B) 10,789 66,029Eagle Pharmaceuticals, Inc. (A)(B) 1,155 59,205Editas Medicine, Inc. (A)(B) 6,567 177,769Eidos Therapeutics, Inc. (A)(B) 1,408 68,865Eiger BioPharmaceuticals, Inc. (A) 3,059 36,922Emergent BioSolutions, Inc. (A)(B) 5,758 480,735Enanta Pharmaceuticals, Inc. (A) 2,420 124,606Epizyme, Inc. (A) 9,843 172,745Esperion Therapeutics, Inc. (A)(B) 3,214 136,177Evelo Biosciences, Inc. (A) 1,973 8,622


83


COMMON STOCKS (continued)Biotechnology (continued)Exelixis, Inc. (A) 81,455 $ 2,012,753Fate Therapeutics, Inc. (A)(B) 7,672 248,803FibroGen, Inc. (A) 9,948 332,661Five Prime Therapeutics, Inc. (A) 4,587 24,311Flexion Therapeutics, Inc. (A)(B) 4,379 50,052Frequency Therapeutics, Inc. (A) 755 14,013G1 Therapeutics, Inc. (A) 4,341 73,667Galapagos NV (A) 2,593 526,038Galectin Therapeutics, Inc. (A)(B) 5,455 16,529Genmab A/S (A) 10,646 3,296,298Geron Corp. (A) 24,280 39,091Gilead Sciences, Inc. 177,530 13,817,160Global Blood Therapeutics, Inc. (A)(B) 7,327 512,304GlycoMimetics, Inc. (A) 4,718 13,352Gossamer Bio, Inc. (A)(B) 5,526 67,141Grifols SA 43,091 1,344,710Gritstone Oncology, Inc. (A) 3,400 21,964Halozyme Therapeutics, Inc. (A) 17,010 412,833Harpoon Therapeutics, Inc. (A) 963 20,955Helixmith Company, Ltd. (A) 4,779 243,160Heron Therapeutics, Inc. (A)(B) 10,687 194,717Homology Medicines, Inc. (A) 3,205 45,639Hookipa Pharma, Inc. (A) 1,402 15,296IGM Biosciences, Inc. (A) 630 40,811ImmunoGen, Inc. (A)(B) 21,445 100,363Immunomedics, Inc. (A) 25,779 865,917Incyte Corp. (A) 25,087 2,556,616Innovent Biologics, Inc. (A)(C) 119,500 656,231Inovio Pharmaceuticals, Inc. (A)(B) 11,996 176,941Insmed, Inc. (A)(B) 11,290 274,234Intellia Therapeutics, Inc. (A)(B) 4,939 86,482Intercept Pharmaceuticals, Inc. (A)(B) 3,191 230,582Invitae Corp. (A)(B) 10,998 184,986Iovance Biotherapeutics, Inc. (A) 14,811 475,285Ironwood Pharmaceuticals, Inc. (A)(B) 19,823 192,878Jounce Therapeutics, Inc. (A) 2,138 11,524Kadmon Holdings, Inc. (A)(B) 20,368 90,434KalVista Pharmaceuticals, Inc. (A) 1,693 19,046Karuna Therapeutics, Inc. (A)(B) 1,328 124,646Karyopharm Therapeutics, Inc. (A) 7,526 139,156Kezar Life Sciences, Inc. (A) 4,161 19,848Kindred Biosciences, Inc. (A) 5,026 21,562Kiniksa Pharmaceuticals, Ltd.,

Class A (A) 1,777 37,086Kodiak Sciences, Inc. (A) 3,538 228,590Krystal Biotech, Inc. (A)(B) 1,323 68,015Kura Oncology, Inc. (A)(B) 4,386 74,957La Jolla Pharmaceutical Company (A) 2,733 12,900Lexicon Pharmaceuticals, Inc. (A)(B) 5,776 11,032Ligand Pharmaceuticals, Inc. (A)(B) 6,587 669,042Lineage Cell Therapeutics, Inc. (A) 15,132 13,342MacroGenics, Inc. (A)(B) 6,108 117,518Madrigal Pharmaceuticals, Inc. (A)(B) 1,144 132,727Magenta Therapeutics, Inc. (A) 2,556 22,595MannKind Corp. (A) 24,526 37,034MediciNova, Inc. (A) 5,529 29,525Medy-Tox, Inc. 892 122,493MEI Pharma, Inc. (A) 13,121 47,957MeiraGTx Holdings PLC (A) 2,228 33,064Mersana Therapeutics, Inc. (A) 4,573 103,533Minerva Neurosciences, Inc. (A)(B) 3,793 14,072Mirati Therapeutics, Inc. (A)(B) 3,760 372,954Mirum Pharmaceuticals, Inc. (A) 704 11,862Molecular Templates, Inc. (A) 2,577 39,995Momenta Pharmaceuticals, Inc. (A)(B) 14,345 451,581


COMMON STOCKS (continued)Biotechnology (continued)Morphic Holding, Inc. (A) 1,384 $ 28,760Mustang Bio, Inc. (A) 4,001 14,924Myriad Genetics, Inc. (A) 9,055 131,569Natera, Inc. (A) 7,880 345,538NextCure, Inc. (A) 1,821 56,833Novavax, Inc. (A) 4,067 187,245OPKO Health, Inc. (A)(B) 49,218 112,217Oyster Point Pharma, Inc. (A) 727 20,690Palatin Technologies, Inc. (A) 31,396 15,915PDL BioPharma, Inc. (A) 14,328 46,853PeptiDream, Inc. (A) 14,500 651,876Pfenex, Inc. (A) 3,867 28,268Pieris Pharmaceuticals, Inc. (A) 6,180 22,248Portola Pharmaceuticals, Inc. (A)(B) 9,734 174,725Precigen, Inc. (A)(B) 9,713 21,369Precision BioSciences, Inc. (A) 4,652 32,611Prevail Therapeutics, Inc. (A) 1,814 30,258Principia Biopharma, Inc. (A) 2,320 148,225Progenics Pharmaceuticals, Inc. (A) 11,327 48,083Protagonist Therapeutics, Inc. (A) 2,305 38,102Prothena Corp. PLC (A) 5,146 54,856PTC Therapeutics, Inc. (A) 7,642 387,526Puma Biotechnology, Inc. (A)(B) 3,976 40,595Radius Health, Inc. (A)(B) 5,769 73,036Regeneron Pharmaceuticals, Inc. (A) 11,209 6,868,987REGENXBIO, Inc. (A) 4,232 159,377Replimune Group, Inc. (A) 1,724 32,377Retrophin, Inc. (A) 5,317 83,397REVOLUTION Medicines, Inc. (A)(B) 1,816 55,788Rhythm Pharmaceuticals, Inc. (A) 3,793 73,546Rigel Pharmaceuticals, Inc. (A) 22,016 43,041Rocket Pharmaceuticals, Inc. (A)(B) 4,074 76,632Rubius Therapeutics, Inc. (A)(B) 4,711 30,386Sangamo Therapeutics, Inc. (A)(B) 14,612 163,508Savara, Inc. (A) 4,791 11,690Scholar Rock Holding Corp. (A) 2,258 41,547Seres Therapeutics, Inc. (A) 4,873 26,753Sorrento Therapeutics, Inc. (A)(B) 16,609 83,875Spectrum Pharmaceuticals, Inc. (A) 14,701 43,221Spero Therapeutics, Inc. (A) 1,737 20,531SpringWorks Therapeutics, Inc. (A) 1,331 50,671Stemline Therapeutics, Inc. (A)(B) 5,969 70,912Stoke Therapeutics, Inc. (A)(B) 2,165 59,884Sutro Biopharma, Inc. (A) 1,561 15,626Syndax Pharmaceuticals, Inc. (A) 2,848 46,138Syros Pharmaceuticals, Inc. (A) 4,469 43,752TCR2 Therapeutics, Inc. (A) 1,620 16,362TG Therapeutics, Inc. (A)(B) 10,914 203,546Translate Bio, Inc. (A)(B) 4,403 91,230Turning Point Therapeutics, Inc. (A)(B) 3,498 242,237Twist Bioscience Corp. (A)(B) 3,308 125,539Tyme Technologies, Inc. (A) 8,148 12,548Ultragenyx Pharmaceutical, Inc. (A)(B) 6,921 473,812United Therapeutics Corp. (A) 11,764 1,387,564UNITY Biotechnology, Inc. (A) 3,839 31,403UroGen Pharma, Ltd. (A)(B) 2,426 56,938Vanda Pharmaceuticals, Inc. (A) 6,605 77,411VBI Vaccines, Inc. (A) 19,856 43,286Veracyte, Inc. (A)(B) 5,978 149,091Vericel Corp. (A) 5,676 81,621Vertex Pharmaceuticals, Inc. (A) 36,084 10,390,749Viela Bio, Inc. (A) 695 32,596Viking Therapeutics, Inc. (A)(B) 8,295 59,309Vir Biotechnology, Inc. (A) 917 31,343Voyager Therapeutics, Inc. (A) 3,142 38,018


84


COMMON STOCKS (continued)Biotechnology (continued)X4 Pharmaceuticals, Inc. (A) 2,078 $ 17,746XBiotech, Inc. (A)(B) 1,620 22,631Xencor, Inc. (A) 5,996 181,379Y-mAbs Therapeutics, Inc. (A) 2,995 114,349Zai Lab, Ltd., ADR (A)(B) 4,800 357,120ZIOPHARM Oncology, Inc. (A) 23,696 70,140

136,549,800Health care equipment and supplies – 2.9%Abbott Laboratories 246,693 23,416,100ABIOMED, Inc. (A) 6,303 1,411,242Accelerate Diagnostics, Inc. (A)(B) 3,615 30,185Accuray, Inc. (A) 11,817 24,816Alcon, Inc. (A) 52,182 3,378,041Align Technology, Inc. (A) 10,011 2,458,902Alphatec Holdings, Inc. (A) 5,139 22,869AngioDynamics, Inc. (A) 4,818 49,192Antares Pharma, Inc. (A)(B) 20,592 59,099Apyx Medical Corp. (A) 4,455 19,780Asahi Intecc Company, Ltd. 30,100 924,029AtriCure, Inc. (A) 4,810 229,966Atrion Corp. (B) 182 116,842Avanos Medical, Inc. (A)(B) 18,856 547,955Axogen, Inc. (A)(B) 4,404 42,719Axonics Modulation

Technologies, Inc. (A)(B) 2,339 85,771Baxter International, Inc. 71,262 6,414,293Becton, Dickinson and Company 41,159 10,163,392BioLife Solutions, Inc. (A) 958 15,759BioMerieux 2,254 323,882BioSig Technologies, Inc. (A) 2,112 19,811Boston Scientific Corp. (A) 194,549 7,390,917Cantel Medical Corp. 10,044 422,652Cardiovascular Systems, Inc. (A) 4,379 169,555Carl Zeiss Meditec AG, Bearer Shares 5,810 594,548Cerus Corp. (A) 19,975 124,245Cochlear, Ltd. 8,311 1,071,866Coloplast A/S, B Shares 19,354 3,273,443CONMED Corp. 3,446 252,971CryoLife, Inc. (A) 4,641 105,490CryoPort, Inc. (A)(B) 3,991 98,059Cutera, Inc. (A) 1,835 24,369CytoSorbents Corp. (A) 3,919 40,013Danaher Corp. 87,830 14,633,356Demant A/S (A) 18,040 511,618Dentsply Sirona, Inc. 31,044 1,444,167DexCom, Inc. (A) 12,728 4,815,130Edwards Lifesciences Corp. (A) 29,112 6,542,049Fisher & Paykel Healthcare Corp., Ltd. 34,820 649,203GenMark Diagnostics, Inc. (A) 7,040 66,810Glaukos Corp. (A)(B) 4,939 192,522Globus Medical, Inc., Class A (A) 30,235 1,652,343Haemonetics Corp. (A) 19,967 2,189,981Hartalega Holdings BHD 156,200 451,376Heska Corp. (A) 893 78,521Hill-Rom Holdings, Inc. 17,898 1,819,690Hologic, Inc. (A) 37,426 1,983,578Hoya Corp. 58,800 5,532,695ICU Medical, Inc. (A) 5,154 1,028,841IDEXX Laboratories, Inc. (A) 11,973 3,698,220Inogen, Inc. (A) 2,322 88,236Integer Holdings Corp. (A) 4,109 325,351Integra LifeSciences Holdings Corp. (A) 19,106 995,614IntriCon Corp. (A) 1,108 15,667Intuitive Surgical, Inc. (A) 16,132 9,357,044Invacare Corp. 4,361 26,864


COMMON STOCKS (continued)Health care equipment and supplies (continued)iRadimed Corp. (A) 607 $ 14,113iRhythm Technologies, Inc. (A)(B) 3,348 416,190Koninklijke Philips NV (A) 148,966 6,772,437Lantheus Holdings, Inc. (A) 4,910 67,414LeMaitre Vascular, Inc. (B) 2,084 56,039LivaNova PLC (A) 19,129 1,023,210Masimo Corp. (A) 13,152 3,158,979Medtronic PLC 187,089 18,443,234Meridian Bioscience, Inc. (A) 5,350 82,711Merit Medical Systems, Inc. (A)(B) 6,784 305,212Mesa Laboratories, Inc. (B) 502 132,654Misonix, Inc. (A) 1,235 17,204Natus Medical, Inc. (A) 4,297 91,956Neogen Corp. (A) 6,555 466,847Nevro Corp. (A)(B) 3,776 474,266Novocure, Ltd. (A) 10,983 740,584NuVasive, Inc. (A) 20,531 1,244,179Olympus Corp. 181,224 3,150,995OraSure Technologies, Inc. (A)(B) 7,761 112,845Orthofix Medical, Inc. (A) 2,323 79,168OrthoPediatrics Corp. (A)(B) 1,269 58,539Penumbra, Inc. (A) 8,611 1,484,709Pulse Biosciences, Inc. (A)(B) 1,533 13,935Quidel Corp. (A) 4,519 790,825ResMed, Inc. 20,070 3,227,657Rockwell Medical, Inc. (A)(B) 8,974 19,204RTI Surgical Holdings, Inc. (A) 7,533 20,490SeaSpine Holdings Corp. (A) 2,880 30,672Shandong Weigao Group Medical

Polymer Company, Ltd., H Shares 261,200 458,151Shockwave Medical, Inc. (A)(B) 3,232 142,240SI-BONE, Inc. (A) 2,475 43,288Siemens Healthineers AG (C) 21,514 1,117,029Sientra, Inc. (A) 5,194 20,153Silk Road Medical, Inc. (A)(B) 2,045 78,262Smith & Nephew PLC 77,578 1,582,709Sonova Holding AG 6,873 1,515,218STAAR Surgical Company (A) 5,626 218,289STERIS PLC 11,834 1,963,142Straumann Holding AG 1,298 1,058,604Stryker Corp. 44,942 8,796,498Surmodics, Inc. (A) 1,675 61,942Sysmex Corp. 26,000 2,086,493Tactile Systems Technology, Inc. (A)(B) 2,321 112,452Tandem Diabetes Care, Inc. (A) 7,089 589,450Teleflex, Inc. 6,462 2,344,801Terumo Corp. 100,246 3,943,049The Cooper Companies, Inc. 6,919 2,193,185Top Glove Corp. BHD 157,600 483,121TransMedics Group, Inc. (A) 1,887 24,927Utah Medical Products, Inc. 445 44,269Vapotherm, Inc. (A)(B) 1,909 50,837Varex Imaging Corp. (A) 4,800 90,048Varian Medical Systems, Inc. (A) 12,687 1,540,075ViewRay, Inc. (A) 14,083 24,645West Pharmaceutical Services, Inc. 10,327 2,231,045Wright Medical Group NV (A)(B) 15,963 471,707Zimmer Biomet Holdings, Inc. 28,710 3,627,221Zynex, Inc. (A) 1,966 38,140

200,868,907Health care providers and services – 2.0%1Life Healthcare, Inc. (A)(B) 2,442 78,877Acadia Healthcare Company, Inc. (A) 23,744 679,316Addus HomeCare Corp. (A) 1,566 154,971Alfresa Holdings Corp. 29,200 589,406


85


COMMON STOCKS (continued)Health care providers and services (continued)Amedisys, Inc. (A) 12,606 $ 2,420,982American Renal Associates

Holdings, Inc. (A) 2,525 15,630AmerisourceBergen Corp. 20,982 2,000,424AMN Healthcare Services, Inc. (A) 5,815 257,953Anthem, Inc. 35,393 10,409,435Apollo Medical Holdings, Inc. (A) 1,064 20,099Bangkok Dusit Medical Services

PCL, NVDR 977,700 691,577BioTelemetry, Inc. (A) 4,195 197,920Brookdale Senior Living, Inc. (A) 23,790 87,071Bumrungrad Hospital PCL, NVDR 43,800 165,377Cardinal Health, Inc. 40,825 2,232,719Catasys, Inc. (A)(B) 922 18,265Celltrion Healthcare Company, Ltd. (A) 10,499 773,468Centene Corp. (A) 81,489 5,398,646Chemed Corp. 4,292 2,053,765Cigna Corp. 52,123 10,284,910Community Health Systems, Inc. (A) 11,165 35,170CorVel Corp. (A) 1,140 77,395Cross Country Healthcare, Inc. (A) 4,706 28,565CVS Health Corp. 181,589 11,906,791DaVita, Inc. (A)(B) 12,517 1,013,376Encompass Health Corp. 26,433 1,936,217Enzo Biochem, Inc. (A) 5,857 16,692Fresenius Medical Care AG &

Company KGaA 30,915 2,615,312Fresenius SE & Company KGaA 60,639 2,931,500Genesis Healthcare, Inc. (A) 11,561 9,967Hanger, Inc. (A) 4,608 84,603Hapvida Participacoes e Investimentos

SA (C) 22,500 231,312HCA Healthcare, Inc. 36,927 3,947,496HealthEquity, Inc. (A) 27,766 1,720,659Henry Schein, Inc. (A) 20,481 1,243,606Humana, Inc. 18,484 7,590,455IHH Healthcare BHD 229,609 287,355Laboratory Corp. of America

Holdings (A) 13,553 2,376,112LHC Group, Inc. (A) 11,743 1,908,355Life Healthcare Group Holdings, Ltd. 164,304 170,676Magellan Health, Inc. (A) 2,782 208,622McKesson Corp. 22,543 3,576,898Medipal Holdings Corp. 28,400 562,616MEDNAX, Inc. (A) 22,599 350,962Molina Healthcare, Inc. (A) 16,809 3,123,448National HealthCare Corp. 1,524 102,215National Research Corp. 1,521 86,271NMC Health PLC 8,800 3,175Notre Dame Intermedica

Participacoes SA 49,100 573,231Option Care Health, Inc. (A) 3,905 59,356Owens & Minor, Inc. (B) 7,790 61,775Patterson Companies, Inc. 33,667 662,903PetIQ, Inc. (A) 2,513 77,099Progyny, Inc. (A) 1,515 37,814Quest Diagnostics, Inc. 18,801 2,223,782R1 RCM, Inc. (A)(B) 13,179 139,829RadNet, Inc. (A) 5,328 90,789Ramsay Health Care, Ltd. 27,056 1,265,312Ryman Healthcare, Ltd. 24,928 187,970Select Medical Holdings Corp. (A) 13,897 224,298Shanghai Pharmaceuticals Holding

Company, Ltd., H Shares 106,500 168,832


COMMON STOCKS (continued)Health care providers and services (continued)Sinopharm Group Company, Ltd.,

H Shares 174,300 $ 430,472Sonic Healthcare, Ltd. 58,757 1,104,545Surgery Partners, Inc. (A) 3,121 41,837Suzuken Company, Ltd. 11,200 407,472Tenet Healthcare Corp. (A) 40,877 889,484The Ensign Group, Inc. 6,399 279,764The Joint Corp. (A) 1,728 26,110The Pennant Group, Inc. (A) 3,211 81,848The Providence Service Corp. (A)(B) 1,476 118,818Tivity Health, Inc. (A) 6,093 64,890Triple-S Management Corp.,

Class B (A)(B) 2,881 57,332UnitedHealth Group, Inc. 132,240 40,313,364Universal Health Services, Inc., Class B 11,212 1,182,305US Physical Therapy, Inc. (B) 1,596 118,327

137,566,190Health care technology – 0.2%Alibaba Health Information

Technology, Ltd. (A) 463,100 1,094,341Allscripts Healthcare Solutions, Inc. (A) 64,134 405,327Castlight Health, Inc., B Shares (A) 15,345 12,087Cerner Corp. 43,841 3,196,009Computer Programs & Systems, Inc. 1,632 36,100Evolent Health, Inc., Class A (A)(B) 9,502 84,378Health Catalyst, Inc. (A)(B) 2,433 66,032HealthStream, Inc. (A) 3,315 75,516HMS Holdings Corp. (A) 11,128 347,639Inovalon Holdings, Inc., Class A (A)(B) 9,224 173,596Inspire Medical Systems, Inc. (A) 1,699 138,536Livongo Health, Inc. (A) 6,510 390,144M3, Inc. 68,500 2,767,009NextGen Healthcare, Inc. (A) 7,008 72,323Omnicell, Inc. (A) 5,236 350,341OptimizeRx Corp. (A) 1,803 20,482Phreesia, Inc. (A) 3,462 101,506Ping An Healthcare and Technology

Company, Ltd. (A)(C) 41,200 547,376Schrodinger, Inc. (A) 1,748 119,651Simulations Plus, Inc. 1,466 74,282Tabula Rasa HealthCare, Inc. (A)(B) 2,469 131,919Teladoc Health, Inc. (A)(B) 9,127 1,588,646Vocera Communications, Inc. (A)(B) 3,973 77,990

11,871,230Life sciences tools and services – 1.0%Agilent Technologies, Inc. 43,020 3,791,783Bio-Rad Laboratories, Inc., Class A (A) 5,793 2,846,217Bio-Techne Corp. 10,217 2,705,462Charles River Laboratories

International, Inc. (A) 13,093 2,352,288ChromaDex Corp. (A) 5,371 25,835Codexis, Inc. (A) 6,769 84,071Eurofins Scientific SE 630 428,333Fluidigm Corp. (A) 9,077 39,576Genscript Biotech Corp. (A) 119,400 263,557Illumina, Inc. (A) 20,435 7,418,927IQVIA Holdings, Inc. (A) 25,086 3,750,859Lonza Group AG 9,324 4,604,382Luminex Corp. 5,290 164,836Medpace Holdings, Inc. (A) 3,480 323,014Mettler-Toledo International, Inc. (A) 3,386 2,691,870NanoString Technologies, Inc. (A) 4,322 131,951NeoGenomics, Inc. (A) 12,036 321,241Pacific Biosciences of

California, Inc. (A)(B) 18,325 64,504


86


COMMON STOCKS (continued)Life sciences tools and services (continued)PerkinElmer, Inc. 15,445 $ 1,551,759Personalis, Inc. (A) 2,455 29,067PRA Health Sciences, Inc. (A) 16,956 1,754,946QIAGEN NV (A) 32,715 1,429,610Quanterix Corp. (A) 1,715 47,317Repligen Corp. (A) 19,161 2,509,516Samsung Biologics

Company, Ltd. (A)(C) 3,286 1,656,814Sartorius Stedim Biotech 1,484 403,914Syneos Health, Inc. (A) 24,570 1,498,524Thermo Fisher Scientific, Inc. 55,745 19,465,597Waters Corp. (A) 8,957 1,790,056WuXi AppTec Company, Ltd., H

Shares (C) 26,572 282,628Wuxi Biologics Cayman, Inc. (A)(C) 99,700 1,574,437

66,002,891Pharmaceuticals – 4.5%AcelRx Pharmaceuticals, Inc. (A) 10,772 14,973Aerie Pharmaceuticals, Inc. (A)(B) 5,405 75,832AMAG Pharmaceuticals, Inc. (A)(B) 4,438 34,217Amneal Pharmaceuticals, Inc. (A)(B) 15,193 73,990Amphastar Pharmaceuticals, Inc. (A) 4,577 85,315ANI Pharmaceuticals, Inc. (A) 1,177 36,558Arvinas, Inc. (A)(B) 2,673 88,931Aspen Pharmacare Holdings, Ltd. (A) 48,254 386,048Astellas Pharma, Inc. 293,600 5,246,025AstraZeneca PLC 116,148 12,509,102Aurora Cannabis, Inc. (A)(B) 15,816 221,356Axsome Therapeutics, Inc. (A)(B) 3,409 262,425Bausch Health Companies, Inc. (A) 54,868 1,010,606Bayer AG 142,397 9,734,198BioDelivery Sciences

International, Inc. (A) 10,704 51,165Bristol-Myers Squibb Company 262,148 15,655,479Canopy Growth Corp. (A)(B) 35,862 630,584Cara Therapeutics, Inc. (A)(B) 5,082 80,651Catalent, Inc. (A) 41,487 3,224,785Chiasma, Inc. (A) 4,527 28,294China Medical System Holdings, Ltd. 175,500 201,256China Resources Pharmaceutical

Group, Ltd. (C) 204,000 111,535China Traditional Chinese Medicine

Holdings Company, Ltd. 292,400 124,573Chugai Pharmaceutical Company, Ltd. 34,700 5,127,691Collegium Pharmaceutical, Inc. (A)(B) 4,061 89,545Corcept Therapeutics, Inc. (A)(B) 12,110 183,345CorMedix, Inc. (A)(B) 3,431 15,165Cronos Group, Inc. (A)(B) 33,016 216,534CSPC Pharmaceutical Group, Ltd. 601,100 1,184,944Cymabay Therapeutics, Inc. (A) 9,112 33,760Daiichi Sankyo Company, Ltd. 88,100 8,278,337Eisai Company, Ltd. 39,154 3,073,244Elanco Animal Health, Inc. (A)(D) 6,772 0Eli Lilly & Company 94,485 14,451,481Eloxx Pharmaceuticals, Inc. (A) 3,542 12,007Endo International PLC (A) 28,614 110,450Evofem Biosciences, Inc. (A) 1,886 10,298Evolus, Inc. (A) 2,556 11,681Fulcrum Therapeutics, Inc. (A) 1,656 32,971GlaxoSmithKline PLC 441,799 9,150,853H Lundbeck A/S 11,296 436,060Hanmi Pharm Company, Ltd. 1,266 243,183Hansoh Pharmaceutical Group

Company, Ltd. (A)(C) 66,000 288,401Hisamitsu Pharmaceutical Company, Inc. 7,900 399,990


COMMON STOCKS (continued)Pharmaceuticals (continued)Hutchison China MediTech, Ltd.,

ADR (A) 7,700 $ 167,937Hypera SA 38,379 231,728Innoviva, Inc. (A)(B) 8,074 112,794Intersect ENT, Inc. (A) 3,997 44,567Intra-Cellular Therapies, Inc. (A) 6,679 139,458Ipsen SA 2,062 161,332Johnson & Johnson 294,319 43,779,951Kala Pharmaceuticals, Inc. (A) 3,056 37,619Kalbe Farma Tbk PT 2,056,110 199,439Kaleido Biosciences, Inc. (A)(B) 1,575 11,372Kyowa Kirin Company, Ltd. 37,828 1,026,534Lannett Company, Inc. (A) 4,126 31,564Liquidia Technologies, Inc. (A) 1,812 16,743Luye Pharma Group, Ltd. (C) 150,100 75,433Mallinckrodt PLC (A)(B) 10,842 30,574Marinus Pharmaceuticals, Inc. (A) 10,694 27,163Menlo Therapeutics, Inc. (A) 6,454 15,425Merck & Company, Inc. 284,713 22,982,033Merck KGaA 18,718 2,157,718Mylan NV (A) 57,716 985,212MyoKardia, Inc. (A) 6,261 640,438Nektar Therapeutics (A)(B) 47,161 1,023,394NGM Biopharmaceuticals, Inc. (A) 3,097 61,104Nippon Shinyaku Company, Ltd. 7,100 613,529Novartis AG 269,390 23,451,987Novo Nordisk A/S, B Shares 289,663 18,974,271Ocular Therapeutix, Inc. (A) 5,469 38,502Odonate Therapeutics, Inc. (A) 1,237 40,413Omeros Corp. (A)(B) 6,523 97,062Ono Pharmaceutical Company, Ltd. 57,600 1,652,157Optinose, Inc. (A) 3,857 16,662Orion OYJ, Class B 13,598 727,814Otsuka Holdings Company, Ltd. 60,700 2,737,694Pacira BioSciences, Inc. (A) 5,191 228,144Paratek Pharmaceuticals, Inc. (A) 4,434 19,687Perrigo Company PLC 15,219 833,545Pfizer, Inc. 618,874 23,634,798Phathom Pharmaceuticals, Inc. (A) 1,378 58,262Phibro Animal Health Corp., Class A 2,595 67,989Prestige Consumer Healthcare, Inc. (A) 19,820 836,404Reata Pharmaceuticals, Inc.,

Class A (A)(B) 2,864 416,196Recordati SpA 10,340 470,884Recro Pharma, Inc. (A) 2,591 11,711Revance Therapeutics, Inc. (A)(B) 6,560 137,104Richter Gedeon NYRT 23,668 517,275Roche Holding AG 88,076 30,573,073Sanofi 62,189 6,083,003Santen Pharmaceutical Company, Ltd. 55,700 1,031,679Satsuma Pharmaceuticals, Inc. (A) 594 15,563Shanghai Fosun Pharmaceutical Group

Company, Ltd., H Shares 66,500 213,294Shionogi & Company, Ltd. 41,863 2,482,513SIGA Technologies, Inc. (A) 6,976 41,786Sino Biopharmaceutical, Ltd. 888,350 1,403,709SSY Group, Ltd. 193,300 119,168Strongbridge Biopharma PLC (A) 4,897 16,748Sumitomo Dainippon Pharma

Company, Ltd. 24,800 351,235Supernus Pharmaceuticals, Inc. (A) 6,258 150,943Taisho Pharmaceutical Holdings

Company, Ltd. 5,200 331,204Takeda Pharmaceutical Company, Ltd. 232,528 9,096,330


87


COMMON STOCKS (continued)Pharmaceuticals (continued)Teva Pharmaceutical Industries, Ltd.,

ADR (A)(B) 125,036 $ 1,566,701TherapeuticsMD, Inc. (A)(B) 29,269 33,074Theravance Biopharma, Inc. (A) 6,237 157,484Tricida, Inc. (A)(B) 2,797 75,127UCB SA 7,266 727,219Verrica Pharmaceuticals, Inc. (A) 1,728 19,837Vifor Pharma AG 5,702 873,753WaVe Life Sciences, Ltd. (A) 2,975 30,286Xeris Pharmaceuticals, Inc. (A) 4,814 24,744Yuhan Corp. 9,250 389,164Zoetis, Inc. 53,263 7,424,330Zogenix, Inc. (A) 5,415 157,739Zynerba Pharmaceuticals, Inc. (A)(B) 3,082 16,211

306,185,377859,044,395

Industrials – 10.0%Aerospace and defense – 1.1%AAR Corp. 4,268 86,086Aerojet Rocketdyne Holdings, Inc. (A) 9,216 404,122AeroVironment, Inc. (A) 2,693 190,745Airbus SE (A) 32,291 2,063,621Aselsan Elektronik Sanayi Ve Ticaret AS 23,102 102,307Astronics Corp. (A) 3,108 28,376AviChina Industry & Technology

Company, Ltd., H Shares 311,300 142,393Axon Enterprise, Inc. (A) 23,282 1,768,501BAE Systems PLC 285,693 1,763,246Bombardier, Inc., Class B (A) 372,355 120,346CAE, Inc. 46,288 694,564Cubic Corp. 3,963 163,315Curtiss-Wright Corp. 11,444 1,147,833Dassault Aviation SA (A) 137 115,723Ducommun, Inc. (A) 1,380 44,436Embraer SA (A) 71,908 96,348General Dynamics Corp. 30,251 4,441,754Howmet Aerospace, Inc. 50,002 654,026Huntington Ingalls Industries, Inc. 5,280 1,055,419Korea Aerospace Industries, Ltd. 14,669 301,528Kratos Defense & Security

Solutions, Inc. (A) 11,411 211,674L3Harris Technologies, Inc. 28,536 5,691,505Leonardo SpA 42,825 268,848Lockheed Martin Corp. 32,043 12,446,783Maxar Technologies, Inc. 7,574 114,140Meggitt PLC 73,717 254,810Mercury Systems, Inc. (A) 21,741 1,942,558Moog, Inc., Class A 3,939 213,848MTU Aero Engines AG 7,593 1,227,228National Presto Industries, Inc. (B) 616 55,434Northrop Grumman Corp. 20,233 6,782,102Park Aerospace Corp. 2,416 29,306Parsons Corp. (A) 2,405 97,787Raytheon Technologies Corp. 189,488 12,225,766Rolls-Royce Holdings PLC (A) 154,285 525,874Safran SA (A) 18,188 1,752,575Singapore Technologies

Engineering, Ltd. 69,400 157,169Teledyne Technologies, Inc. (A) 9,777 3,657,771Textron, Inc. 29,467 912,593Thales SA 5,851 447,852The Boeing Company 69,017 10,066,129TransDigm Group, Inc. 6,428 2,730,743Triumph Group, Inc. 6,449 48,303


COMMON STOCKS (continued)Aerospace and defense (continued)Vectrus, Inc. (A) 1,417 $ 77,822

77,323,309Air freight and logistics – 0.5%Air Transport Services Group, Inc. (A) 7,425 159,935Atlas Air Worldwide Holdings, Inc. (A) 2,965 115,813BEST, Inc., ADR (A) 25,200 130,536C.H. Robinson Worldwide, Inc. 23,452 1,902,661Deutsche Post AG 143,087 4,481,229DSV Panalpina A/S 34,696 3,677,723Echo Global Logistics, Inc. (A) 3,454 71,498Expeditors International of

Washington, Inc. 29,531 2,255,282FedEx Corp. 41,624 5,434,429Forward Air Corp. 3,598 178,749Hub Group, Inc., Class A (A) 4,091 191,336Hyundai Glovis Company, Ltd. 3,794 347,380Radiant Logistics, Inc. (A) 5,317 21,215SG Holdings Company, Ltd. 22,100 722,638Sinotrans, Ltd., H Shares 276,200 57,505United Parcel Service, Inc., Class B 121,516 12,116,360XPO Logistics, Inc. (A)(B) 24,744 1,950,075Yamato Holdings Company, Ltd. 48,000 1,067,900ZTO Express Cayman, Inc., ADR 40,600 1,324,372

36,206,636Airlines – 0.2%Air Canada (A) 23,152 267,362Air China, Ltd., H Shares (B) 216,966 131,405AirAsia Group BHD 154,346 24,598Alaska Air Group, Inc. (B) 21,359 730,264Allegiant Travel Company 1,646 175,381American Airlines Group, Inc. (B) 67,604 709,842ANA Holdings, Inc. (A) 17,700 427,639China Airlines, Ltd. 261,000 71,395China Eastern Airlines Corp., Ltd.,

H Shares 216,400 73,815China Southern Airlines Company, Ltd.,

H Shares (B) 194,900 81,179Delta Air Lines, Inc. 99,813 2,516,286Deutsche Lufthansa AG (A)(B) 34,171 347,369easyJet PLC 14,880 126,434Eva Airways Corp. 292,066 107,121Hawaiian Holdings, Inc. 5,809 83,824Japan Airlines Company, Ltd. 17,800 349,534JetBlue Airways Corp. (A) 77,393 779,348Korean Air Lines Company, Ltd. (A) 9,149 153,982Latam Airlines Group SA (A) 38,423 41,284Mesa Air Group, Inc. (A) 3,737 12,145Qantas Airways, Ltd. 98,076 261,806Singapore Airlines, Ltd. 23,840 64,527SkyWest, Inc. 6,225 199,636Southwest Airlines Company 91,349 2,932,303Spirit Airlines, Inc. (A)(B) 8,769 113,559Turk Hava Yollari AO (A) 38,666 71,122United Airlines Holdings, Inc. (A)(B) 43,222 1,211,945

12,065,105Building products – 0.5%AAON, Inc. 5,178 280,493Advanced Drainage Systems, Inc. 5,475 242,762AGC, Inc. 28,384 805,066Allegion PLC 9,100 907,270American Woodmark Corp. (A) 2,151 134,997AO Smith Corp. (B) 13,424 637,640Apogee Enterprises, Inc. (B) 3,376 69,714Armstrong Flooring, Inc. (A) 3,030 10,363


88


COMMON STOCKS (continued)Building products (continued)Assa Abloy AB, B Shares 146,297 $ 2,985,976Builders FirstSource, Inc. (A) 14,416 299,997Caesarstone, Ltd. 2,998 33,398Carrier Global Corp. (A) 79,471 1,626,771China Lesso Group Holdings, Ltd. 138,000 167,773Cie de Saint-Gobain 27,345 894,879Cornerstone Building Brands, Inc. (A) 6,052 32,802CSW Industrials, Inc. 1,858 132,958Daikin Industries, Ltd. 38,600 5,683,664Fortune Brands Home & Security, Inc. 13,631 830,946Geberit AG 4,582 2,241,929Gibraltar Industries, Inc. (A) 4,082 179,649Griffon Corp. 4,647 78,070Insteel Industries, Inc. 2,368 41,795JELD-WEN Holding, Inc. (A) 8,619 117,477Johnson Controls International PLC 75,563 2,373,434Kingspan Group PLC 21,241 1,311,471Lennox International, Inc. (B) 9,400 2,010,096LIXIL Group Corp. 41,100 574,173Masco Corp. 27,826 1,298,083Masonite International Corp. (A) 3,123 207,305Owens Corning 29,164 1,531,110Patrick Industries, Inc. 2,863 148,504PGT Innovations, Inc. (A) 7,243 98,577Quanex Building Products Corp. (B) 4,290 53,196Resideo Technologies, Inc. (A) 32,925 232,451Simpson Manufacturing Company, Inc. 5,633 450,978TOTO, Ltd. 21,800 868,042Trane Technologies PLC 23,469 2,117,138Trex Company, Inc. (A)(B) 23,063 2,770,328UFP Industries, Inc. 7,515 343,661

34,824,936Commercial services and supplies – 0.6%ABM Industries, Inc. 8,423 258,839ACCO Brands Corp. 12,167 75,314Advanced Disposal Services, Inc. (A)(B) 9,140 284,985A-Living Services Company, Ltd., H

Shares (C) 55,250 298,762Brady Corp., Class A 6,093 311,535Brambles, Ltd. 202,166 1,573,656BrightView Holdings, Inc. (A) 4,009 54,883Casella Waste Systems, Inc., Class A (A) 5,790 295,001CECO Environmental Corp. (A) 4,137 21,967China Everbright International, Ltd. 479,500 248,224Cimpress PLC (A)(B) 2,375 214,059Cintas Corp. 11,339 2,811,618Clean Harbors, Inc. (A) 13,764 817,444CompX International, Inc. 240 3,377Copart, Inc. (A) 27,666 2,473,064Country Garden Services Holdings

Company, Ltd. (A) 155,400 736,286Covanta Holding Corp. 15,059 135,531Dai Nippon Printing Company, Ltd. 37,600 857,153Deluxe Corp. 16,701 389,634Ennis, Inc. (B) 3,279 58,366G4S PLC 141,054 157,891Greentown Service Group Company, Ltd. 137,000 184,617Harsco Corp. (A) 9,966 111,221Healthcare Services Group, Inc. 29,308 701,047Heritage-Crystal Clean, Inc. (A) 1,986 33,683Herman Miller, Inc. 23,315 536,711HNI Corp. 16,914 430,800Interface, Inc. 7,436 63,132ISS A/S (A) 26,072 435,641KAR Auction Services, Inc. 34,522 495,391


COMMON STOCKS (continued)Commercial services and supplies (continued)Kimball International, Inc., Class B 4,599 $ 51,463Knoll, Inc. 6,275 66,264Matthews International Corp., Class A 3,899 80,709McGrath RentCorp 3,058 170,514Mobile Mini, Inc. 5,572 178,527MSA Safety, Inc. 14,007 1,665,993Park24 Company, Ltd. 17,900 345,778PICO Holdings, Inc. (A) 2,562 21,470Pitney Bowes, Inc. (B) 21,865 51,820Quad/Graphics, Inc. 4,598 13,104Rentokil Initial PLC 164,472 1,017,186Republic Services, Inc. 28,487 2,434,499Rollins, Inc. 19,043 795,997RR Donnelley & Sons Company 9,970 10,867S-1 Corp. 3,264 245,456Secom Company, Ltd. 32,494 2,820,446Securitas AB, B Shares (A) 45,904 612,862Sohgo Security Services Company, Ltd. 11,000 541,581SP Plus Corp. (A) 2,932 59,725Steelcase, Inc., Class A 11,190 129,580Stericycle, Inc. (A) 24,430 1,339,497Team, Inc. (A) 4,067 20,050Tetra Tech, Inc. 21,511 1,697,218The Brink’s Company 19,741 791,614Toppan Printing Company, Ltd. 43,800 750,592UniFirst Corp. 1,907 342,879US Ecology, Inc. (B) 3,094 104,175Viad Corp. 2,613 47,922VSE Corp. 1,156 30,056Waste Management, Inc. 52,786 5,634,906

37,142,582Construction and engineering – 0.4%ACS Actividades de Construccion y

Servicios SA 37,303 954,585AECOM (A) 42,112 1,632,682Aegion Corp. (A) 3,953 59,335Ameresco, Inc., Class A (A) 2,833 60,796Arcosa, Inc. 6,104 232,990Argan, Inc. 1,857 68,690Bouygues SA (A) 12,169 373,353China Communications

Construction Company, Ltd., H Shares 566,865 362,568China Communications Services Corp.,

Ltd., H Shares 303,200 202,198China Conch Venture Holdings, Ltd. 207,400 936,074China Railway Construction Corp., Ltd.,

H Shares 251,600 225,908China Railway Group, Ltd., H Shares 484,200 265,834China State Construction International

Holdings, Ltd. 259,900 160,996CIMIC Group, Ltd. 12,103 201,805Comfort Systems USA, Inc. 4,619 170,903Concrete Pumping Holdings, Inc. (A) 3,873 12,897Construction Partners, Inc., Class A (A) 2,326 41,170Daelim Industrial Company, Ltd. 5,641 422,122Daewoo Engineering & Construction

Company, Ltd. (A) 39,456 122,545Dycom Industries, Inc. (A) 12,310 518,251Eiffage SA (A) 4,301 392,618EMCOR Group, Inc. 22,102 1,404,582Ferrovial SA 70,758 1,928,283Fluor Corp. 37,578 436,281Gamuda BHD 181,900 163,568Granite Construction, Inc. (B) 6,020 105,952Great Lakes Dredge & Dock Corp. (A) 7,766 71,991


89


COMMON STOCKS (continued)Construction and engineering (continued)GS Engineering & Construction Corp. 12,411 $ 287,304HDC Hyundai Development

Co-Engineering & Construction,Series E 8,134 131,424

HOCHTIEF AG 3,493 309,476Hyundai Engineering & Construction

Company, Ltd. 15,691 435,119IES Holdings, Inc. (A) 1,044 24,430IJM Corp. BHD 287,300 127,282Jacobs Engineering Group, Inc. 26,359 2,214,683JGC Holdings Corp. 34,400 370,962Kajima Corp. 70,400 799,389MasTec, Inc. (A) 23,746 929,656Metallurgical Corp. of China, Ltd.,

H Shares 364,800 56,704MYR Group, Inc. (A) 2,060 59,349Northwest Pipe Company (A) 1,223 30,685NV5 Global, Inc. (A) 1,320 62,251Obayashi Corp. 101,900 944,895Primoris Services Corp. 5,656 94,399Quanta Services, Inc. 27,681 1,022,259Samsung Engineering Company, Ltd. (A) 31,453 309,005Shimizu Corp. 92,100 779,606Sinopec Engineering Group

Company, Ltd., H Shares 189,100 79,515Skanska AB, B Shares (A) 49,606 997,222Sterling Construction Company, Inc. (A) 3,391 30,689Taisei Corp. 31,400 1,090,764Tutor Perini Corp. (A) 5,157 54,149Valmont Industries, Inc. 5,771 657,894Vinci SA 28,249 2,635,495WillScot Corp. (A)(B) 6,625 88,378WSP Global, Inc. 18,612 1,201,193

27,353,154Electrical equipment – 0.7%ABB, Ltd. 230,569 4,575,005Acuity Brands, Inc. 10,622 915,085Allied Motion Technologies, Inc. 929 33,621American Superconductor Corp. (A) 2,959 21,453AMETEK, Inc. 34,885 3,199,303Atkore International Group, Inc. (A) 6,001 161,067AZZ, Inc. 3,299 104,446Bloom Energy Corp., Class A (A) 7,065 56,732Eaton Corp. PLC 63,088 5,356,171Emerson Electric Company 92,962 5,672,541Encore Wire Corp. 2,597 125,409EnerSys 16,726 1,058,756Fuji Electric Company, Ltd. 20,000 534,297Generac Holdings, Inc. (A) 24,480 2,723,890Hubbell, Inc. 14,580 1,784,884Legrand SA 14,444 989,656Melrose Industries PLC 432,903 624,099Mitsubishi Electric Corp. 284,318 3,753,406Neoplux Company, Ltd. (A) 255 412Nidec Corp. 69,500 4,278,186nVent Electric PLC 41,718 764,691Plug Power, Inc. (A)(B) 37,714 158,776Powell Industries, Inc. 1,153 30,670Preformed Line Products Company 404 20,051Prysmian SpA 24,376 522,450Regal Beloit Corp. 10,976 873,031Rockwell Automation, Inc. 17,633 3,811,549Schneider Electric SE 29,059 2,877,212Schneider Electric SE (Euronext

London Exchange) 1,474 147,268


COMMON STOCKS (continued)Electrical equipment (continued)Shanghai Electric Group Company, Ltd.,

H Shares 321,436 $ 89,421Siemens Gamesa Renewable Energy SA 34,406 584,540Sunrun, Inc. (A) 14,311 238,994Thermon Group Holdings, Inc. (A) 4,215 67,566TPI Composites, Inc. (A) 3,698 76,734Vestas Wind Systems A/S 30,960 3,162,120Vicor Corp. (A) 2,248 137,083Vivint Solar, Inc. (A) 5,667 42,616WEG SA 84,798 664,712Xinjiang Goldwind Science &

Technology Company, Ltd., H Shares 95,600 86,665Zhuzhou CRRC Times Electric

Company, Ltd., H Shares 70,900 184,48450,509,052

Industrial conglomerates – 1.2%3M Company 104,196 16,300,422Aboitiz Equity Ventures, Inc. 267,760 226,689Alfa SAB de CV, Class A 401,900 213,143Ayala Corp. 38,695 572,968Carlisle Companies, Inc. 15,193 1,821,033CITIC, Ltd. 755,333 724,662CJ Corp. 2,966 220,815CK Hutchison Holdings, Ltd. 329,472 2,028,518DCC PLC 8,764 735,152Far Eastern New Century Corp. 396,133 355,510Fosun International, Ltd. 334,500 432,971General Electric Company 1,582,458 10,396,749Grupo Carso SAB de CV, Series A1 60,500 139,883GT Capital Holdings, Inc. 13,068 100,090HAP Seng Consolidated BHD 65,000 112,049Honeywell International, Inc. 129,470 18,883,200Jardine Matheson Holdings, Ltd. 26,632 1,070,958Jardine Strategic Holdings, Ltd. 27,000 539,530JG Summit Holdings, Inc. 393,140 378,831Keihan Holdings Company, Ltd. 14,700 700,908Keppel Corp., Ltd. 67,631 283,652KOC Holding AS 48,689 115,118LG Corp. 19,127 977,693Lotte Corp. 5,132 142,410NWS Holdings, Ltd. 185,230 146,101Raven Industries, Inc. 4,590 98,456Roper Technologies, Inc. 18,855 7,425,099Samsung C&T Corp. 17,042 1,369,607Sembcorp Industries, Ltd. 45,500 43,861Shanghai Industrial Holdings, Ltd. 66,270 103,624Siemens AG 110,815 12,217,875Sime Darby BHD 292,800 141,113SK Holdings Company, Ltd. 7,018 1,360,678SM Investments Corp. (A) 32,985 597,756Smiths Group PLC 35,197 573,875The Bidvest Group, Ltd. 34,766 301,782Toshiba Corp. 60,000 1,645,542

83,498,323Machinery – 2.0%AGCO Corp. 16,804 928,085Airtac International Group 15,000 258,604Alamo Group, Inc. 1,232 127,290Albany International Corp., Class A 3,879 233,904Alfa Laval AB (A) 46,004 934,896Alstom SA 10,476 440,930Altra Industrial Motion Corp. 8,161 252,991Amada Company, Ltd. 52,300 467,358ANDRITZ AG 14,901 558,278Astec Industries, Inc. (B) 2,835 120,431


90


COMMON STOCKS (continued)Machinery (continued)Atlas Copco AB, A Shares 98,339 $ 3,889,794Atlas Copco AB, B Shares 57,005 2,026,079Barnes Group, Inc. 5,969 225,509Blue Bird Corp. (A) 2,010 28,844Briggs & Stratton Corp. 6,077 9,966Caterpillar, Inc. 73,677 8,850,818Chart Industries, Inc. (A)(B) 4,580 179,765CIRCOR International, Inc. (A) 2,565 41,245CNH Industrial NV (A) 103,269 630,246Colfax Corp. (A)(B) 22,414 628,937Columbus McKinnon Corp. 2,973 90,409Commercial Vehicle Group, Inc. (A) 4,313 10,912Crane Company 13,667 761,525CRRC Corp., Ltd., H Shares 571,700 268,659Cummins, Inc. 20,424 3,463,910Daewoo Shipbuilding & Marine

Engineering Company, Ltd. (A) 7,416 131,257Daifuku Company, Ltd. 15,700 1,228,248Deere & Company 41,977 6,385,541Donaldson Company, Inc. 33,929 1,609,931Doosan Bobcat, Inc. 10,121 194,405Douglas Dynamics, Inc. 2,816 102,897Dover Corp. 19,366 1,883,344Energy Recovery, Inc. (A) 4,799 36,880Enerpac Tool Group Corp. 7,009 125,461EnPro Industries, Inc. 2,621 118,155Epiroc AB, A Shares 96,409 1,079,161Epiroc AB, B Shares 57,243 641,852ESCO Technologies, Inc. 3,220 266,004Evoqua Water Technologies Corp. (A) 9,633 181,197FANUC Corp. 30,100 5,378,825Federal Signal Corp. 7,534 219,541Flowserve Corp. 17,445 455,315Fortive Corp. 39,396 2,402,368Franklin Electric Company, Inc. 5,832 295,799GEA Group AG 21,997 659,283Gencor Industries, Inc. (A) 1,251 14,899Graco, Inc. 44,711 2,155,517Graham Corp. 1,351 15,455Haitian International Holdings, Ltd. 82,200 174,918Helios Technologies, Inc. 3,735 133,601Hillenbrand, Inc. 9,259 238,327Hino Motors, Ltd. 45,900 311,228Hitachi Construction Machinery

Company, Ltd. 16,900 445,804Hiwin Technologies Corp. 28,169 288,947Hoshizaki Corp. 8,400 678,166Hurco Companies, Inc. 837 26,165Hyster-Yale Materials Handling, Inc. 1,323 48,435Hyundai Heavy Industries Holdings

Company, Ltd. 1,960 430,035IDEX Corp. 10,140 1,616,012IHI Corp. 23,300 336,015Illinois Tool Works, Inc. 38,992 6,724,560Ingersoll Rand, Inc. (A) 46,132 1,300,922ITT, Inc. 23,511 1,356,585John Bean Technologies Corp. (B) 3,948 324,328Kadant, Inc. 1,383 133,916Kawasaki Heavy Industries, Ltd. 22,400 355,803Kennametal, Inc. 32,617 904,796KION Group AG 9,382 525,240Knorr-Bremse AG 6,825 722,853Komatsu, Ltd. 143,900 2,909,861Kone OYJ, B Shares 44,296 2,977,457


COMMON STOCKS (continued)Machinery (continued)Korea Shipbuilding & Offshore

Engineering Company, Ltd. (A) 7,726 $ 569,821Kubota Corp. 161,200 2,170,724Kurita Water Industries, Ltd. 15,389 426,087LB Foster Company, Class A (A) 1,377 16,827Lincoln Electric Holdings, Inc. (B) 16,393 1,347,013Lindsay Corp. 1,357 127,449Luxfer Holdings PLC 3,535 49,455Lydall, Inc. (A) 2,290 24,778Makita Corp. 34,800 1,182,321Meritor, Inc. (A)(B) 8,955 182,503Metso OYJ 13,685 446,243Miller Industries, Inc. 1,397 41,393MINEBEA MITSUMI, Inc. 56,700 999,531MISUMI Group, Inc. 43,900 1,168,521Mitsubishi Heavy Industries, Ltd. 50,240 1,304,112Mueller Industries, Inc. 7,026 188,156Mueller Water Products, Inc., Class A 19,819 185,109Nabtesco Corp. 17,600 549,377Navistar International Corp. (A) 6,294 158,231NGK Insulators, Ltd. 41,300 606,210NN, Inc. 5,615 25,099Nordson Corp. 13,717 2,583,597NSK, Ltd. 56,200 413,362Omega Flex, Inc. 360 36,828Oshkosh Corp. 18,245 1,310,356Otis Worldwide Corp. 54,081 2,847,365PACCAR, Inc. 46,111 3,405,758Parker-Hannifin Corp. 17,126 3,082,166Park-Ohio Holdings Corp. 1,195 17,435Pentair PLC 22,407 877,010Proto Labs, Inc. (A)(B) 3,408 430,601RBC Bearings, Inc. (A) 3,066 431,233REV Group, Inc. 3,730 22,753Rexnord Corp. 13,433 404,333Samsung Heavy Industries

Company, Ltd. (A) 86,692 338,720Sandvik AB (A) 165,537 2,767,376Schindler Holding AG 2,323 542,454Schindler Holding AG,

Participation Certificates 5,176 1,209,250Sinotruk Hong Kong, Ltd. 88,600 215,962SKF AB, B Shares 55,940 1,034,231SMC Corp. 8,896 4,504,028Snap-on, Inc. 7,312 948,293Spirax-Sarco Engineering PLC 6,531 801,559SPX Corp. (A) 5,506 220,130SPX FLOW, Inc. (A) 5,311 183,654Standex International Corp. (B) 1,568 82,963Stanley Black & Decker, Inc. 20,266 2,542,370Sumitomo Heavy Industries, Ltd. 17,700 406,072Techtronic Industries Company, Ltd. 166,500 1,452,527Tennant Company 2,273 145,336Terex Corp. 25,679 403,674The Eastern Company 769 14,388The Gorman-Rupp Company 2,213 67,851The Greenbrier Companies, Inc. (B) 4,093 86,853The Manitowoc Company, Inc. (A) 4,574 42,767The Shyft Group, Inc. 4,230 72,248The Timken Company 18,174 773,122The Toro Company 28,578 2,031,038The Weir Group PLC 23,103 278,869THK Company, Ltd. 18,700 489,256TriMas Corp. (A) 5,689 134,545Trinity Industries, Inc. (B) 26,312 525,451


91


COMMON STOCKS (continued)Machinery (continued)Volvo AB, B Shares (A) 218,757 $ 3,121,526Wabash National Corp. (B) 6,714 64,119Wabtec Corp. 24,277 1,482,596Wartsila OYJ ABP 57,967 454,830Watts Water Technologies, Inc., Class A 3,468 288,399Weichai Power Company, Ltd., H Shares 241,980 419,190Welbilt, Inc. (A)(B) 16,619 101,044Woodward, Inc. 15,117 1,036,724Xylem, Inc. 24,007 1,592,624Yangzijiang Shipbuilding Holdings, Ltd. 114,400 76,348Yaskawa Electric Corp. 37,300 1,345,494Zoomlion Heavy Industry Science and

Technology Company, Ltd., H Shares 170,600 140,376134,044,708

Marine – 0.1%A.P. Moller - Maersk A/S, Series A 698 641,078A.P. Moller - Maersk A/S, Series B 1,005 990,853COSCO SHIPPING Holdings

Company, Ltd., H Shares (A) 306,300 77,970Costamare, Inc. 6,561 30,181Eagle Bulk Shipping, Inc. (A)(B) 6,416 11,356Evergreen Marine Corp. Taiwan, Ltd. (A) 289,748 105,451Genco Shipping & Trading, Ltd. 2,169 10,238Kirby Corp. (A) 16,071 824,121Kuehne + Nagel International AG (A) 6,591 953,241Matson, Inc. 5,418 154,792MISC BHD 137,600 263,258Mitsui OSK Lines, Ltd. 18,500 328,743Nippon Yusen KK 23,500 339,817Pan Ocean Company, Ltd. (A) 55,073 159,774Scorpio Bulkers, Inc. 774 13,475

4,904,348Professional services – 0.7%51job, Inc., ADR (A) 3,400 219,266Acacia Research Corp. (A) 6,828 17,685Adecco Group AG 19,225 924,414ASGN, Inc. (A) 20,627 1,270,417Barrett Business Services, Inc. 932 47,252BG Staffing, Inc. 1,311 13,687Bureau Veritas SA (A) 15,514 317,391CBIZ, Inc. (A) 6,428 145,594CoreLogic, Inc. 21,318 1,056,520CRA International, Inc. 977 39,461Equifax, Inc. 16,375 2,514,545Experian PLC 80,544 2,824,878Exponent, Inc. 6,523 484,268Forrester Research, Inc. (A) 1,417 44,494Franklin Covey Company (A) 1,287 27,413FTI Consulting, Inc. (A) 14,779 1,780,278GP Strategies Corp. (A) 1,827 14,342Heidrick & Struggles International, Inc. 2,405 53,343Huron Consulting Group, Inc. (A) 2,842 131,471ICF International, Inc. 2,297 150,637IHS Markit, Ltd. 54,233 3,767,024Insperity, Inc. 14,769 765,625Intertek Group PLC 14,339 981,328Kelly Services, Inc., Class A 4,216 63,198Kforce, Inc. 2,565 77,463Korn Ferry 7,009 212,092ManpowerGroup, Inc. 15,807 1,092,896Mistras Group, Inc. (A) 2,663 10,759Nielsen Holdings PLC 48,115 668,317Persol Holdings Company, Ltd. 27,700 366,078Randstad NV 19,454 818,490Recruit Holdings Company, Ltd. 210,700 7,257,971


COMMON STOCKS (continued)Professional services (continued)RELX PLC 171,655 $ 3,995,352Resources Connection, Inc. 3,956 43,476Robert Half International, Inc. 15,899 806,715SGS SA 744 1,755,307Teleperformance 3,172 755,308Thomson Reuters Corp. 35,016 2,345,336TriNet Group, Inc. (A) 5,561 298,793TrueBlue, Inc. (A)(B) 4,943 76,419Upwork, Inc. (A) 7,383 91,845Verisk Analytics, Inc. 22,162 3,826,934Willdan Group, Inc. (A) 1,314 32,127Wolters Kluwer NV 44,610 3,560,337

45,746,546Road and rail – 1.3%ArcBest Corp. 3,295 73,775Aurizon Holdings, Ltd. 256,024 812,193Avis Budget Group, Inc. (A)(B) 22,579 486,126BTS Group Holdings PCL, NVDR 718,600 273,724Canadian National Railway Company 122,326 10,536,996Canadian Pacific Railway, Ltd. 23,518 5,894,659Central Japan Railway Company 22,388 3,836,896CJ Logistics Corp. (A) 1,784 232,396ComfortDelGro Corp., Ltd. 98,400 100,532Covenant Transportation Group, Inc.,

Class A (A) 1,743 21,962CSX Corp. 134,848 9,652,420Daseke, Inc. (A) 6,609 18,274East Japan Railway Company 46,800 3,675,800Hankyu Hanshin Holdings, Inc. 35,400 1,310,042Heartland Express, Inc. 5,856 128,246J.B. Hunt Transport Services, Inc. 14,785 1,769,321Kansas City Southern 17,188 2,587,138Keikyu Corp. 33,800 567,079Keio Corp. 15,820 943,213Keisei Electric Railway Company, Ltd. 19,835 651,712Kintetsu Group Holdings Company, Ltd. 26,400 1,297,090Knight-Swift Transportation

Holdings, Inc. (B) 32,938 1,370,550Kyushu Railway Company (B) 24,600 699,078Landstar System, Inc. 10,579 1,229,915Localiza Rent a Car SA 61,145 440,916Marten Transport, Ltd. 4,974 127,285MTR Corp., Ltd. 183,868 887,255Nagoya Railroad Company, Ltd. 28,500 859,953Nippon Express Company, Ltd. 12,080 621,417Norfolk Southern Corp. 45,215 8,061,382Odakyu Electric Railway Company, Ltd. 45,200 1,131,357Old Dominion Freight Line, Inc. 16,610 2,841,805Rumo SA (A) 109,200 461,045Ryder System, Inc. 14,287 489,473Saia, Inc. (A) 3,276 355,249Seibu Holdings, Inc. 30,500 398,738Tobu Railway Company, Ltd. 29,400 1,043,488Tokyu Corp. 76,893 1,222,666U.S. Xpress Enterprises, Inc.,

Class A (A) 3,097 15,795Union Pacific Corp. 120,380 20,447,747Universal Logistics Holdings, Inc. 1,104 16,405Werner Enterprises, Inc. 17,556 811,438West Japan Railway Company 25,200 1,631,386

90,033,937Trading companies and distributors – 0.5%AerCap Holdings NV (A) 20,500 660,920Applied Industrial Technologies, Inc. 4,853 281,474Ashtead Group PLC 41,059 1,226,114


92


COMMON STOCKS (continued)Trading companies and distributors (continued)Beacon Roofing Supply, Inc. (A) 6,937 $ 170,789BMC Stock Holdings, Inc. (A) 8,448 221,084BOC Aviation, Ltd. (C) 27,600 152,342Brenntag AG 22,180 1,180,051Bunzl PLC 29,699 695,062CAI International, Inc. (A) 2,108 39,651DXP Enterprises, Inc. (A) 2,154 37,975EVI Industries, Inc. (A) 634 12,464Fastenal Company 72,984 3,011,320Ferguson PLC 20,185 1,591,951Foundation Building Materials, Inc. (A) 2,646 35,245GATX Corp. 13,833 867,882GMS, Inc. (A) 5,106 104,622H&E Equipment Services, Inc. 4,066 69,691Herc Holdings, Inc. (A) 3,087 87,980ITOCHU Corp. 210,037 4,516,735Kaman Corp. 3,519 140,760Lawson Products, Inc. (A) 557 17,300Marubeni Corp. 245,200 1,193,809Mitsubishi Corp. 210,300 4,914,964Mitsui & Company, Ltd. 257,900 3,921,910MonotaRO Company, Ltd. 19,300 702,082MRC Global, Inc. (A) 10,237 60,603MSC Industrial Direct Company, Inc.,

Class A 12,076 837,350NOW, Inc. (A) 43,171 321,624Posco International Corp. 10,489 135,951Rush Enterprises, Inc., Class A 3,361 139,885Rush Enterprises, Inc., Class B 666 24,382SiteOne Landscape Supply, Inc. (A)(B) 5,163 548,879Sumitomo Corp. 185,355 2,233,359Systemax, Inc. 1,565 32,849Textainer Group Holdings, Ltd. (A)(B) 6,637 54,291Titan Machinery, Inc. (A) 2,507 26,248Toyota Tsusho Corp. 33,393 849,612Transcat, Inc. (A) 900 22,536Triton International, Ltd. 6,820 208,010United Rentals, Inc. (A) 9,564 1,328,344Veritiv Corp. (A) 1,799 22,416W.W. Grainger, Inc. 5,552 1,719,010Watsco, Inc. 8,752 1,557,068

35,976,594Transportation infrastructure – 0.2%Aena SME SA (A)(C) 9,744 1,390,633Aeroports de Paris 1,554 161,990Airports of Thailand PCL, NVDR 439,000 858,024Atlantia SpA (A) 50,234 825,834Auckland International Airport, Ltd. 74,688 302,560Bangkok Expressway & Metro

PCL, NVDR 785,800 244,024Beijing Capital International Airport

Company, Ltd., H Shares 216,211 135,456CCR SA 122,015 336,117China Merchants Port Holdings

Company, Ltd. 180,031 220,777COSCO SHIPPING Ports, Ltd. 231,108 116,033Fraport AG Frankfurt Airport Services

Worldwide (A) 5,814 290,879Getlink SE (A) 23,800 344,176Grupo Aeroportuario del Pacifico SAB

de CV, B Shares 47,500 316,174Grupo Aeroportuario del Sureste SAB de

CV, B Shares 27,455 285,179International Container Terminal

Services, Inc. 134,150 232,441


COMMON STOCKS (continued)Transportation infrastructure (continued)Japan Airport Terminal Company, Ltd. 7,800 $ 343,328Jasa Marga Persero Tbk PT (A) 208,054 50,665Jiangsu Expressway Company, Ltd.,

H Shares 152,055 179,616Kamigumi Company, Ltd. 16,800 329,255Malaysia Airports Holdings BHD 100,122 115,395Promotora y Operadora de

Infraestructura SAB de CV (A) 30,250 228,527SATS, Ltd. 30,900 58,341Shenzhen Expressway Company, Ltd.,

H Shares 88,000 89,318Shenzhen International Holdings, Ltd. 124,000 207,676Sydney Airport 144,166 564,052Taiwan High Speed Rail Corp. 231,632 291,012TAV Havalimanlari Holding AS 12,260 36,594Transurban Group 355,623 3,396,674Westports Holdings BHD 81,500 74,942Zhejiang Expressway Company, Ltd.,

H Shares 190,982 134,53612,160,228

681,789,458Information technology – 18.5%Communications equipment – 0.7%Acacia Communications, Inc. (A) 4,791 323,393Accton Technology Corp. 62,000 499,756ADTRAN, Inc. 6,160 70,224Applied Optoelectronics, Inc. (A)(B) 2,499 22,066Arista Networks, Inc. (A) 7,324 1,709,861BYD Electronic International

Company, Ltd. 87,300 168,919CalAmp Corp. (A) 4,380 33,726Calix, Inc. (A) 5,921 83,486Casa Systems, Inc. (A) 4,261 18,535Ciena Corp. (A) 41,471 2,291,687Cisco Systems, Inc. 572,770 27,389,861Clearfield, Inc. (A) 1,511 20,897Comtech Telecommunications Corp. (B) 3,030 53,964Digi International, Inc. (A) 3,689 41,059Extreme Networks, Inc. (A) 15,107 49,853F5 Networks, Inc. (A) 8,208 1,189,503Harmonic, Inc. (A) 11,409 61,495Infinera Corp. (A)(B) 22,758 113,335Inseego Corp. (A)(B) 5,732 60,874InterDigital, Inc. 12,302 676,241Juniper Networks, Inc. 45,187 1,096,237KMW Company, Ltd. (A) 5,130 242,644KVH Industries, Inc. (A) 2,245 20,632Lumentum Holdings, Inc. (A)(B) 30,151 2,210,671Motorola Solutions, Inc. 23,132 3,130,454NETGEAR, Inc. (A)(B) 3,785 97,388NetScout Systems, Inc. (A) 26,640 731,801Nokia OYJ 738,734 2,937,645Plantronics, Inc. 4,358 56,785Ribbon Communications, Inc. (A) 7,812 34,373Telefonaktiebolaget LM Ericsson,

B Shares 449,500 4,116,227ViaSat, Inc. (A) 15,461 649,362Viavi Solutions, Inc. (A) 29,094 337,199ZTE Corp., H Shares (A) 96,915 248,453

50,788,606Electronic equipment, instruments and components – 1.4%AAC Technologies Holdings, Inc. (B) 93,600 485,252Airgain, Inc. (A) 1,279 11,549Akoustis Technologies, Inc. (A)(B) 3,898 28,806


93


COMMON STOCKS (continued)Electronic equipment, instruments andcomponents (continued)Alps Alpine Company, Ltd. 32,900 $ 398,734Amphenol Corp., Class A 40,031 3,865,393Anixter International, Inc. (A)(B) 3,836 367,144Arlo Technologies, Inc. (A) 10,316 22,798Arrow Electronics, Inc. (A) 21,835 1,508,362AU Optronics Corp. 1,038,851 263,549Avnet, Inc. 27,066 737,278Badger Meter, Inc. 3,604 220,529Bel Fuse, Inc., Class B 1,402 13,137Belden, Inc. 15,314 521,289Benchmark Electronics, Inc. 4,676 99,084CDW Corp. 19,399 2,151,543China Railway Signal & Communication

Corp., Ltd., H Shares (C) 186,500 82,705Cognex Corp. 45,814 2,599,486Coherent, Inc. (A) 6,475 940,235Corning, Inc. 103,839 2,366,491CTS Corp. 4,130 88,134Daktronics, Inc. 4,927 20,890Delta Electronics, Inc. 239,898 1,104,445ePlus, Inc. (A) 1,699 125,233Fabrinet (A)(B) 4,593 293,676FARO Technologies, Inc. (A) 2,188 123,141Fitbit, Inc., Class A (A) 29,311 185,832FLIR Systems, Inc. 18,112 836,774Foxconn Technology Company, Ltd. 114,180 205,605Halma PLC 33,989 986,355Hamamatsu Photonics KK 21,600 981,375Hexagon AB, B Shares (A) 38,539 2,137,467Hirose Electric Company, Ltd. 5,030 601,338Hitachi, Ltd. 150,700 4,867,489Hon Hai Precision Industry

Company, Ltd. 1,542,172 3,901,529II-VI, Inc. (A) 34,807 1,654,377Ingenico Group SA 3,360 467,678Innolux Corp. 1,001,300 207,967Insight Enterprises, Inc. (A) 4,421 226,620IPG Photonics Corp. (A) 4,801 746,075Iteris, Inc. (A) 5,385 25,902Itron, Inc. (A) 4,336 279,325Jabil, Inc. 37,241 1,114,251KEMET Corp. 7,164 193,643Keyence Corp. 28,306 11,659,207Keysight Technologies, Inc. (A) 25,326 2,738,500Kimball Electronics, Inc. (A) 3,153 44,741Kingboard Holdings, Ltd. 86,600 210,879Kingboard Laminates Holdings, Ltd. 140,000 123,665Knowles Corp. (A) 10,328 155,333Kyocera Corp. 50,000 2,708,480Largan Precision Company, Ltd. 12,590 1,612,862LG Display Company, Ltd. (A) 45,482 377,495LG Innotek Company, Ltd. 2,868 343,626Littelfuse, Inc. 6,530 1,061,060Methode Electronics, Inc. 4,603 144,304MTS Systems Corp. 2,526 44,483Murata Manufacturing Company, Ltd. 89,197 5,017,134Napco Security Technologies, Inc. (A) 1,488 33,807National Instruments Corp. 31,621 1,224,365nLight, Inc. (A) 4,222 91,026Novanta, Inc. (A) 4,256 437,134Omron Corp. 28,867 1,916,875OSI Systems, Inc. (A) 2,143 162,375PAR Technology Corp. (A)(B) 1,483 37,090PC Connection, Inc. 1,404 60,765


COMMON STOCKS (continued)Electronic equipment, instruments andcomponents (continued)Plexus Corp. (A) 3,649 $ 234,339Rogers Corp. (A) 2,345 253,870Samsung Electro-Mechanics

Company, Ltd. 11,166 1,133,089Samsung SDI Company, Ltd. 10,936 3,184,189Sanmina Corp. (A) 8,677 230,895ScanSource, Inc. (A) 3,262 80,408Shimadzu Corp. 34,400 935,362Sunny Optical Technology Group

Company, Ltd. 91,350 1,227,642SYNNEX Corp. 10,954 1,168,244Synnex Technology International Corp. 163,544 242,143TDK Corp. 20,200 1,895,255TE Connectivity, Ltd. 45,159 3,669,169Tech Data Corp. (A)(B) 13,975 1,903,954Trimble, Inc. (A) 66,788 2,612,747TTM Technologies, Inc. (A)(B) 12,541 145,099Venture Corp., Ltd. 12,400 134,752Vishay Intertechnology, Inc. 52,234 849,325Vishay Precision Group, Inc. (A) 1,368 32,312Walsin Technology Corp. 39,000 243,740WPG Holdings, Ltd. 179,360 234,805Yageo Corp. 31,726 393,715Yokogawa Electric Corp. 35,700 516,374Zebra Technologies Corp., Class A (A) 7,280 1,902,410Zhen Ding Technology Holding, Ltd. 67,817 271,035

91,758,564IT services – 3.7%Accenture PLC, Class A 85,908 17,320,771Adyen NV (A)(C) 1,720 2,255,404Akamai Technologies, Inc. (A) 21,860 2,312,788Alliance Data Systems Corp. 5,544 256,854Amadeus IT Group SA 62,453 3,265,756Atos SE (A) 5,398 410,836Automatic Data Processing, Inc. 58,533 8,574,499Brightcove, Inc. (A) 5,080 40,792Broadridge Financial Solutions, Inc. 15,508 1,878,019CACI International, Inc., Class A (A) 6,713 1,683,486Capgemini SE 8,777 906,617Cardtronics PLC, Class A (A)(B) 4,688 113,403Cass Information Systems, Inc. 1,807 72,894CGI, Inc. (A) 41,295 2,638,729Cielo SA 121,224 92,912Cognizant Technology Solutions Corp.,

Class A 74,072 3,925,816Computershare, Ltd. 63,241 553,827Conduent, Inc. (A) 22,573 53,949CSG Systems International, Inc. (B) 4,153 196,645DXC Technology Company 34,630 492,092Edenred 12,921 540,671Endurance International Group

Holdings, Inc. (A) 9,727 34,823EVERTEC, Inc. 7,688 223,875Evo Payments, Inc., Class A (A)(B) 5,114 113,224ExlService Holdings, Inc. (A) 4,247 259,789Fidelity National Information

Services, Inc. 83,332 11,568,982Fiserv, Inc. (A) 77,258 8,248,837FleetCor Technologies, Inc. (A) 11,739 2,861,851Fujitsu, Ltd. 30,500 3,142,963Gartner, Inc. (A) 12,101 1,472,692GDS Holdings, Ltd., ADR (A)(B) 7,900 450,300Global Payments, Inc. 40,657 7,297,525GMO Payment Gateway, Inc. 6,300 710,619


94


COMMON STOCKS (continued)IT services (continued)GTT Communications, Inc. (A)(B) 4,442 $ 35,492I3 Verticals, Inc., Class A (A)(B) 1,884 54,372IBM Corp. 119,804 14,963,520International Money Express, Inc. (A) 2,416 26,648Itochu Techno-Solutions Corp. 14,600 494,144Jack Henry & Associates, Inc. 10,407 1,882,210KBR, Inc. (B) 55,892 1,310,667Leidos Holdings, Inc. 18,001 1,895,325Limelight Networks, Inc. (A) 14,610 72,173LiveRamp Holdings, Inc. (A) 26,643 1,343,606ManTech International Corp., Class A 3,364 261,517Mastercard, Inc., Class A 120,087 36,132,977MAXIMUS, Inc. 25,187 1,813,968NEC Corp. 38,500 1,731,047NIC, Inc. 8,289 199,433Nomura Research Institute, Ltd. 52,600 1,394,936NTT Data Corp. 98,100 1,137,155Obic Company, Ltd. 10,000 1,737,404Otsuka Corp. 16,100 779,665Paychex, Inc. 43,095 3,114,907PayPal Holdings, Inc. (A) 158,838 24,621,478Paysign, Inc. (A)(B) 3,837 27,703Perficient, Inc. (A) 4,040 137,522Perspecta, Inc. 54,557 1,209,529PRGX Global, Inc. (A) 3,127 12,320Sabre Corp. 73,424 511,765Samsung SDS Company, Ltd. 6,903 1,066,095Science Applications International Corp. 20,462 1,801,474Shopify, Inc., Class A (A) 17,605 13,361,439Sykes Enterprises, Inc. (A) 4,834 131,775The Hackett Group, Inc. 3,109 42,873The Western Union Company (B) 56,708 1,135,294TravelSky Technology, Ltd., H Shares 118,900 240,846TTEC Holdings, Inc. 2,195 92,980Tucows, Inc., Class A (A)(B) 1,209 72,625Unisys Corp. (A)(B) 6,422 72,954VeriSign, Inc. (A) 13,976 3,060,884Verra Mobility Corp. (A) 16,261 177,408Virtusa Corp. (A) 3,665 110,207Visa, Inc., Class A 231,567 45,211,141WEX, Inc. (A) 11,605 1,718,468Wirecard AG (B) 16,997 1,802,868Wix.com, Ltd. (A) 5,600 1,245,048Worldline SA (A)(C) 7,011 526,430

252,744,532Semiconductors and semiconductor equipment – 4.1%Adesto Technologies Corp. (A) 3,416 41,231Advanced Energy Industries, Inc. (A) 4,816 321,853Advanced Micro Devices, Inc. (A) 163,973 8,821,747Advantest Corp. (B) 31,000 1,538,514Alpha & Omega Semiconductor, Ltd. (A) 2,626 27,626Ambarella, Inc. (A) 4,099 232,577Amkor Technology, Inc. (A) 12,427 131,478Analog Devices, Inc. 51,632 5,831,834Applied Materials, Inc. 129,500 7,275,310ASE Technology Holding Company, Ltd. 428,422 881,650ASM Pacific Technology, Ltd. 36,600 335,803ASML Holding NV 70,040 22,943,684Axcelis Technologies, Inc. (A) 4,084 109,655AXT, Inc. (A) 5,011 26,508Broadcom, Inc. 55,609 16,197,233Brooks Automation, Inc. 9,165 366,325Cabot Microelectronics Corp. 11,467 1,661,110CEVA, Inc. (A) 2,759 95,103Cirrus Logic, Inc. (A) 22,847 1,655,951


COMMON STOCKS (continued)Semiconductors and semiconductor equipment (continued)Cohu, Inc. (B) 5,122 $ 77,137Cree, Inc. (A)(B) 28,875 1,521,424Diodes, Inc. (A)(B) 5,242 254,971Disco Corp. 4,200 940,939DSP Group, Inc. (A) 2,828 50,961Enphase Energy, Inc. (A) 32,931 1,916,255First Solar, Inc. (A)(B) 20,346 948,531FormFactor, Inc. (A) 9,544 240,222Globalwafers Company, Ltd. 27,000 327,330GSI Technology, Inc. (A) 2,209 16,634Hua Hong

Semiconductor, Ltd. (A)(B)(C) 57,100 107,297Ichor Holdings, Ltd. (A) 2,817 64,087Impinj, Inc. (A)(B) 2,145 55,448Infineon Technologies AG 181,445 3,824,449Inphi Corp. (A) 5,676 713,303Intel Corp. 609,823 38,376,161KLA Corp. 22,121 3,892,411Lam Research Corp. 20,338 5,565,900Lattice Semiconductor Corp. (A) 15,934 396,279MACOM Technology Solutions

Holdings, Inc. (A)(B) 5,821 184,817Maxim Integrated Products, Inc. 37,935 2,188,091MaxLinear, Inc. (A) 8,423 145,886MediaTek, Inc. 186,752 2,883,365Microchip Technology, Inc. (B) 33,502 3,216,862Micron Technology, Inc. (A) 155,196 7,435,440MKS Instruments, Inc. 14,613 1,543,571Monolithic Power Systems, Inc. 10,830 2,271,593Nanya Technology Corp. 152,196 304,585NeoPhotonics Corp. (A) 4,984 43,211Novatek Microelectronics Corp. 70,900 485,457NVE Corp. 621 37,589NVIDIA Corp. 85,796 30,459,296NXP Semiconductors NV 46,100 4,430,210Onto Innovation, Inc. (A) 6,089 189,246PDF Solutions, Inc. (A) 3,605 61,501Phison Electronics Corp. 18,884 174,052Photronics, Inc. (A) 8,022 96,184Power Integrations, Inc. 3,573 387,135Powertech Technology, Inc. 93,199 301,839Qorvo, Inc. (A) 16,286 1,705,796QUALCOMM, Inc. 160,074 12,946,785Rambus, Inc. (A) 14,019 217,855Realtek Semiconductor Corp. 59,584 514,665Renesas Electronics Corp. (A) 120,200 625,203Rohm Company, Ltd. 14,500 982,225Semiconductor Manufacturing

International Corp. (A) 388,899 852,618Semtech Corp. (A) 26,103 1,388,158Silicon Laboratories, Inc. (A) 17,065 1,598,308SiTime Corp. (A) 641 19,108SK Hynix, Inc. 108,397 7,188,082Skyworks Solutions, Inc. 23,885 2,831,328SMART Global Holdings, Inc. (A) 1,693 45,339SolarEdge Technologies, Inc. (A)(B) 13,032 1,849,241STMicroelectronics NV 37,875 940,623SUMCO Corp. 39,000 602,210SunPower Corp. (A)(B) 9,480 68,446Synaptics, Inc. (A) 13,292 846,966Taiwan Semiconductor Manufacturing

Company, Ltd. 3,039,915 29,551,837Teradyne, Inc. 44,925 3,010,874Texas Instruments, Inc. 131,045 15,560,283Tokyo Electron, Ltd. 24,415 4,913,108


95


COMMON STOCKS (continued)Semiconductors and semiconductor equipment (continued)Ultra Clean Holdings, Inc. (A) 4,975 $ 103,132United Microelectronics Corp. 1,382,774 713,736Universal Display Corp. 11,367 1,666,402Vanguard International

Semiconductor Corp. 110,302 271,436Veeco Instruments, Inc. (A)(B) 6,225 73,082Win Semiconductors Corp. 42,000 362,502Winbond Electronics Corp. 370,000 170,353Xilinx, Inc. 35,252 3,241,421Xinyi Solar Holdings, Ltd. 519,000 378,211Xperi Corp. (B) 6,253 85,979

279,950,173Software – 5.0%8x8, Inc. (A) 12,278 178,522A10 Networks, Inc. (A) 6,395 43,486ACI Worldwide, Inc. (A) 45,573 1,256,903Adobe, Inc. (A) 59,770 23,107,082Agilysys, Inc. (A)(B) 2,644 50,844Alarm.com Holdings, Inc. (A) 4,660 220,371Altair Engineering, Inc., Class A (A)(B) 5,074 198,343American Software, Inc., Class A 3,718 72,315ANSYS, Inc. (A) 10,567 2,990,461Appfolio, Inc., Class A (A) 1,985 314,642Appian Corp. (A)(B) 4,303 245,099Autodesk, Inc. (A) 27,168 5,715,604Avaya Holdings Corp. (A)(B) 12,167 177,638AVEVA Group PLC 5,746 291,942Benefitfocus, Inc. (A) 3,896 49,596Blackbaud, Inc. 19,374 1,135,510BlackBerry, Ltd. (A) 91,061 423,278Blackline, Inc. (A) 5,461 405,752Bottomline Technologies DE, Inc. (A) 5,489 277,743Box, Inc., Class A (A) 18,535 370,329Cadence Design Systems, Inc. (A) 34,645 3,162,742CDK Global, Inc. 32,544 1,279,305Ceridian HCM Holding, Inc. (A) 27,019 1,860,799ChannelAdvisor Corp. (A) 3,426 47,793Check Point Software

Technologies, Ltd. (A)(B) 14,000 1,535,380Citrix Systems, Inc. 14,201 2,103,452Cloudera, Inc. (A)(B) 31,330 321,133CommVault Systems, Inc. (A) 16,563 670,139Constellation Software, Inc. 3,442 3,912,683Cornerstone OnDemand, Inc. (A) 7,230 279,440CyberArk Software, Ltd. (A) 4,400 456,632Dassault Systemes SE 7,136 1,218,343Digimarc Corp. (A) 1,547 26,593Digital Turbine, Inc. (A) 9,948 63,866Domo, Inc., Class B (A)(B) 2,291 58,008Ebix, Inc. (B) 2,975 66,670eGain Corp. (A) 2,670 27,795Envestnet, Inc. (A) 6,113 443,865Everbridge, Inc. (A) 4,199 614,146Fair Isaac Corp. (A) 7,764 3,126,175Five9, Inc. (A) 7,556 787,335ForeScout Technologies, Inc. (A)(B) 5,481 129,297Fortinet, Inc. (A) 17,528 2,439,898GTY Technology Holdings, Inc. (A) 5,516 20,685Intelligent Systems Corp. (A) 852 27,290Intuit, Inc. 32,140 9,330,885j2 Global, Inc. (A)(B) 18,303 1,433,125Kingdee International Software Group

Company, Ltd. (A)(B) 294,800 524,550Kingsoft Corp., Ltd. 105,000 342,686LivePerson, Inc. (A) 7,872 294,806


COMMON STOCKS (continued)Software (continued)LogMeIn, Inc. 13,086 $ 1,111,001Manhattan Associates, Inc. (A) 17,131 1,514,380Micro Focus International PLC 30,341 149,465Microsoft Corp. 941,941 172,610,688MicroStrategy, Inc., Class A (A) 1,031 128,339Mitek Systems, Inc. (A) 5,063 47,238MobileIron, Inc. (A) 12,704 57,422Model N, Inc. (A) 4,200 134,904Nice, Ltd. (A) 7,198 1,335,661NortonLifeLock, Inc. 70,793 1,612,665OneSpan, Inc. (A) 4,160 84,531Open Text Corp. (B) 47,315 1,965,659Oracle Corp. 267,496 14,383,260Oracle Corp. Japan 5,800 678,586Paycom Software, Inc. (A) 6,057 1,800,322Paylocity Holding Corp. (A) 9,612 1,249,608Ping Identity Holding Corp. (A) 1,742 49,316Progress Software Corp. 5,698 230,199PROS Holdings, Inc. (A) 4,238 165,070PTC, Inc. (A) 27,865 2,128,329Q2 Holdings, Inc. (A) 5,992 495,059QAD, Inc., Class A 1,461 66,724Qualys, Inc. (A)(B) 4,249 489,995Rapid7, Inc. (A) 6,243 305,220Rimini Street, Inc. (A) 2,862 13,194Rosetta Stone, Inc. (A) 2,673 49,664SailPoint Technologies Holdings, Inc. (A) 10,864 248,025salesforce.com, Inc. (A) 109,519 19,142,826SAP SE 142,341 18,165,886SecureWorks Corp., Class A (A) 1,099 14,793ServiceNow, Inc. (A) 23,287 9,033,726SharpSpring, Inc. (A) 1,535 15,197ShotSpotter, Inc. (A) 1,054 24,506Sprout Social, Inc., Class A (A) 1,236 34,052SPS Commerce, Inc. (A)(B) 4,426 301,676SVMK, Inc. (A) 11,008 221,811Synchronoss Technologies, Inc. (A) 5,538 15,091Synopsys, Inc. (A) 18,561 3,357,871Telenav, Inc. (A) 4,459 22,072Temenos AG (B) 8,137 1,250,690Tenable Holdings, Inc. (A) 4,800 150,096Teradata Corp. (A) 30,159 645,704The Sage Group PLC 96,350 826,216TiVo Corp. 15,874 96,673Trend Micro, Inc. 19,600 1,078,828Tyler Technologies, Inc. (A) 10,451 3,922,365Upland Software, Inc. (A)(B) 2,913 100,644Varonis Systems, Inc. (A)(B) 3,798 320,513Verint Systems, Inc. (A) 8,411 390,018VirnetX Holding Corp. (B) 7,804 51,897WiseTech Global, Ltd. 18,532 252,668Workiva, Inc. (A) 4,667 207,868Yext, Inc. (A)(B) 12,259 193,570Zix Corp. (A) 6,910 46,435Zuora, Inc., Class A (A) 11,310 135,833

337,255,025Technology hardware, storage and peripherals – 3.6%3D Systems Corp. (A)(B) 14,617 107,727Acer, Inc. 358,008 195,275Advantech Company, Ltd. 42,764 424,312Apple, Inc. 563,911 179,289,863Asustek Computer, Inc. 88,354 620,330Avid Technology, Inc. (A) 3,724 26,291Brother Industries, Ltd. 35,000 662,336Canon, Inc. 155,296 3,188,937


96


COMMON STOCKS (continued)Technology hardware, storage and peripherals (continued)Catcher Technology Company, Ltd. 81,475 $ 593,783Chicony Electronics Company, Ltd. 72,224 207,220Compal Electronics, Inc. 510,148 324,894Diebold Nixdorf, Inc. (A)(B) 9,892 47,383FUJIFILM Holdings Corp. 56,015 2,569,214Hewlett Packard Enterprise Company 174,707 1,696,405HP, Inc. 200,079 3,029,196Immersion Corp. (A) 4,103 27,716Inventec Corp. 306,495 249,248Konica Minolta, Inc. 70,900 263,411Legend Holdings Corp., H Shares (B)(C) 53,100 64,582Lenovo Group, Ltd. 925,764 506,255Lite-On Technology Corp. 260,018 417,281Micro-Star International Company, Ltd. 83,300 281,054NCR Corp. (A) 34,207 617,436NetApp, Inc. 30,814 1,372,456Pegatron Corp. 243,500 524,101Quanta Computer, Inc. 333,000 777,892Ricoh Company, Ltd. 104,400 773,829Samsung Electronics Company, Ltd. 947,442 39,021,412Seagate Technology PLC 31,213 1,655,538Seiko Epson Corp. 43,769 495,958Stratasys, Ltd. (A)(B) 6,582 117,555Western Digital Corp. 40,154 1,781,633Wistron Corp. 356,580 339,958Wiwynn Corp. 10,000 267,965Xerox Holdings Corp. 25,100 398,588Xiaomi Corp., Class B (A)(C) 1,339,900 2,097,468

245,034,5021,257,531,402

Materials – 4.7%Chemicals – 2.5%Advanced Emissions Solutions, Inc. 2,038 10,272AdvanSix, Inc. (A) 3,625 42,920Air Liquide SA 25,996 3,534,935Air Products & Chemicals, Inc. 40,210 9,716,747Air Water, Inc. 28,100 409,060Akzo Nobel NV 33,384 2,741,420Albemarle Corp. (B) 19,341 1,479,973American Vanguard Corp. 3,688 49,050Amyris, Inc. (A)(B) 7,830 29,206Arkema SA 3,808 333,925Asahi Kasei Corp. 196,000 1,557,763Ashland Global Holdings, Inc. 16,146 1,084,365Balchem Corp. 4,070 409,646Barito Pacific Tbk PT (A) 2,638,300 244,364BASF SE 133,145 7,246,789Cabot Corp. 15,275 545,623Celanese Corp. 22,048 1,982,336CF Industries Holdings, Inc. 39,659 1,164,785Chase Corp. 920 91,678Chr. Hansen Holding A/S 17,184 1,668,825Clariant AG (A) 24,895 459,726Corteva, Inc. 136,518 3,728,307Covestro AG (C) 25,149 934,964Croda International PLC 11,474 738,199Daicel Corp. 38,800 329,298Dow, Inc. 135,256 5,220,882DuPont de Nemours, Inc. 135,132 6,855,246Eastman Chemical Company 24,803 1,688,588Ecolab, Inc. 45,744 9,724,260EMS-Chemie Holding AG 995 739,308Evonik Industries AG 30,402 751,238Ferro Corp. (A) 10,400 125,008FMC Corp. 23,643 2,326,708


COMMON STOCKS (continued)Chemicals (continued)Formosa Chemicals & Fibre Corp. 434,471 $ 1,043,866Formosa Plastics Corp. 553,040 1,531,470FutureFuel Corp. 3,249 42,497GCP Applied Technologies, Inc. (A) 6,904 139,047Givaudan SA 1,149 4,137,636Hawkins, Inc. 1,240 53,196HB Fuller Company 6,452 242,724Hitachi Chemical Company, Ltd. 16,100 690,401ICL Group, Ltd. 84,565 294,860Incitec Pivot, Ltd. 214,927 288,183Indorama Ventures PCL, NVDR 175,100 157,452Ingevity Corp. (A) 16,543 871,320Innospec, Inc. 3,070 236,666International Flavors &

Fragrances, Inc. (B) 19,477 2,594,142Intrepid Potash, Inc. (A) 13,340 16,408Johnson Matthey PLC 17,491 461,173JSR Corp. 30,000 591,002Kaneka Corp. 500 13,410Kansai Paint Company, Ltd. 27,300 565,892KCC Corp. 962 112,004Koninklijke DSM NV 29,806 3,812,627Koppers Holdings, Inc. (A) 2,433 40,315Kraton Corp. (A) 3,998 60,970Kronos Worldwide, Inc. 2,890 28,206Kumho Petrochemical Company, Ltd. 3,735 214,905Kuraray Company, Ltd. 49,600 522,194LANXESS AG 12,174 631,877LG Chem, Ltd. 9,113 2,888,443Linde PLC 97,988 19,826,892Livent Corp. (A)(B) 18,715 126,139Lotte Chemical Corp. 3,432 523,363LyondellBasell Industries NV, Class A 46,830 2,985,881Methanex Corp. 12,836 207,990Minerals Technologies, Inc. 13,721 676,583Mitsubishi Chemical Holdings Corp. 199,250 1,173,656Mitsubishi Gas Chemical Company, Inc. 25,400 379,631Mitsui Chemicals, Inc. 28,700 598,489Nan Ya Plastics Corp. 637,610 1,338,772NewMarket Corp. 1,980 863,537Nippon Paint Holdings Company, Ltd. 22,700 1,588,500Nissan Chemical Corp. 19,400 860,753Nitto Denko Corp. 24,744 1,343,613Novozymes A/S, B Shares 34,812 1,901,422Nutrien, Ltd. 98,573 3,364,877OCI Company, Ltd. (A) 3,773 120,662Olin Corp. 42,805 514,944Orbia Advance Corp. SAB de CV 141,080 205,056Orica, Ltd. 53,040 609,134Orion Engineered Carbons SA 7,686 85,007Petronas Chemicals Group BHD 250,645 364,206PolyOne Corp. 35,844 888,214PPG Industries, Inc. 43,133 4,385,332PQ Group Holdings, Inc. (A) 4,907 61,583PTT Global Chemical PCL, NVDR 233,900 317,092Quaker Chemical Corp. (B) 1,662 283,953Rayonier Advanced Materials, Inc. 7,135 15,483RPM International, Inc. 34,765 2,599,727Sasol, Ltd. (A) 70,617 369,738Sensient Technologies Corp. 16,708 837,405Shin-Etsu Chemical Company, Ltd. 55,137 6,457,256Showa Denko KK (B) 21,100 506,606Sika AG 15,956 2,741,081Sinopec Shanghai Petrochemical

Company, Ltd., H Shares 416,199 103,609


97


COMMON STOCKS (continued)Chemicals (continued)Solvay SA 4,140 $ 316,131Stepan Company 2,573 249,993Sumitomo Chemical Company, Ltd. 234,900 729,972Symrise AG 18,438 2,029,979Taiyo Nippon Sanso Corp. 20,200 339,582Teijin, Ltd. 28,000 458,902The Chemours Company (B) 43,832 574,638The Mosaic Company 63,775 771,040The Scotts Miracle-Gro Company 10,622 1,514,379The Sherwin-Williams Company 14,986 8,899,436Toray Industries, Inc. 216,200 1,052,516Tosoh Corp. 41,500 578,712Trecora Resources (A) 2,915 18,627Tredegar Corp. 3,316 50,768Trinseo SA (B) 4,986 102,612Tronox Holdings PLC, Class A 11,663 77,442Umicore SA 10,969 487,408Valvoline, Inc. 50,505 926,767Yara International ASA 11,087 381,392

169,034,782Construction materials – 0.3%Anhui Conch Cement Company, Ltd.,

H Shares 157,610 1,188,457Asia Cement Corp. 272,687 396,212BBMG Corp., H Shares 282,000 59,066Boral, Ltd. 151,280 314,864Cemex SAB de CV 2,000,688 473,680China National Building Material

Company, Ltd., H Shares 498,900 565,997China Resources Cement Holdings, Ltd. 311,900 394,060CRH PLC 110,772 3,567,047Eagle Materials, Inc. 11,160 745,042Fletcher Building, Ltd. 50,827 111,091Forterra, Inc. (A) 2,398 21,150Grupo Argos SA 43,111 100,554HeidelbergCement AG 21,690 1,084,960Indocement Tunggal Prakarsa Tbk

PT (A) 184,520 153,163James Hardie Industries PLC, CHESS

Depositary Interest 57,236 988,751LafargeHolcim, Ltd. (A) 62,037 2,586,665Martin Marietta Materials, Inc. 11,401 2,190,018POSCO Chemical Company, Ltd. 4,831 217,665Semen Indonesia Persero Tbk PT 298,092 200,371Summit Materials, Inc., Class A (A)(B) 14,438 219,313Taiheiyo Cement Corp. 19,100 452,708Taiwan Cement Corp. 608,367 863,699The Siam Cement PCL, NVDR 80,500 869,731U.S. Concrete, Inc. (A) 2,083 43,451United States Lime & Minerals, Inc. 262 19,430Vulcan Materials Company 24,143 2,615,170

20,442,315Containers and packaging – 0.3%Amcor PLC 295,541 3,017,474AptarGroup, Inc. 17,138 1,909,002Avery Dennison Corp. 15,231 1,685,615Ball Corp. 59,672 4,252,227CCL Industries, Inc., Class B 26,254 884,572Greif, Inc., Class A 10,236 347,819Greif, Inc., Class B 795 30,480International Paper Company 71,526 2,435,460Klabin SA 69,642 257,228Myers Industries, Inc. 4,559 62,048O-I Glass, Inc. 41,721 319,583Packaging Corp. of America 17,266 1,750,945


COMMON STOCKS (continued)Containers and packaging (continued)Sealed Air Corp. 28,182 $ 904,642Silgan Holdings, Inc. 20,786 695,084Smurfit Kappa Group PLC 31,601 1,031,952Sonoco Products Company 26,834 1,390,270Toyo Seikan Group Holdings, Ltd. 22,500 239,598UFP Technologies, Inc. (A) 854 38,609Westrock Company 47,044 1,320,055

22,572,663Metals and mining – 1.5%1911 Gold Corp. (A) 2,060 731Agnico Eagle Mines, Ltd. 40,699 2,603,897Allegheny Technologies, Inc. (A) 49,817 432,412Alumina, Ltd. 314,770 311,622Aluminum Corp. of China, Ltd., H

Shares (A) 496,880 92,123Anglo American Platinum, Ltd. 6,561 416,017Anglo American PLC 91,753 1,942,322AngloGold Ashanti, Ltd. 51,065 1,244,342Antofagasta PLC 35,316 385,611ArcelorMittal SA (A) 36,427 348,879Barrick Gold Corp. 302,401 7,272,032BHP Group PLC 187,399 3,685,357BHP Group, Ltd. 383,121 9,017,071BlueScope Steel, Ltd. 65,858 485,215Boliden AB 39,740 868,374Carpenter Technology Corp. 18,792 439,169Century Aluminum Company (A) 6,602 39,348China Hongqiao Group, Ltd. 223,300 99,074China Molybdenum Company, Ltd.,

H Shares 463,500 143,723China Steel Corp. 1,442,958 952,059China Zhongwang Holdings, Ltd. 198,600 37,642Cia de Minas Buenaventura SAA,

ADR (B) 33,200 260,620Cia Siderurgica Nacional SA 60,866 117,710Cleveland-Cliffs, Inc. (B) 50,044 261,230Coeur Mining, Inc. (A) 30,309 174,277Commercial Metals Company 46,667 800,806Compass Minerals International, Inc. 13,394 645,323Eregli Demir ve Celik Fabrikalari TAS 89,447 105,471Evraz PLC 45,043 157,826First Quantum Minerals, Ltd. 118,431 694,148Fortescue Metals Group, Ltd. 180,832 1,674,036Franco-Nevada Corp. 32,104 4,506,242Freeport-McMoRan, Inc. 264,660 2,400,466Glencore PLC (A) 945,441 1,785,515Gold Fields, Ltd. 101,600 784,164Gold Resource Corp. 7,849 30,611Grupo Mexico SAB de CV, Series B 464,300 1,000,230Haynes International, Inc. 1,627 37,144Hecla Mining Company 65,879 218,718Hitachi Metals, Ltd. 33,200 382,510Hyundai Steel Company 16,338 290,117Impala Platinum Holdings, Ltd. 99,567 664,445Industrias Penoles SAB de CV 17,360 164,170JFE Holdings, Inc. 75,300 554,478Jiangxi Copper Company, Ltd., H Shares 152,825 140,537Kaiser Aluminum Corp. 2,008 144,074KGHM Polska Miedz SA (A) 10,222 219,142Kinross Gold Corp. (A) 213,819 1,389,897Kirkland Lake Gold, Ltd. 46,275 1,782,975Korea Zinc Company, Ltd. 1,688 516,982Kumba Iron Ore, Ltd. 8,006 216,218Lundin Mining Corp. (B) 117,791 542,394


98


COMMON STOCKS (continued)Metals and mining (continued)Maanshan Iron & Steel Company, Ltd.,

H Shares 90,500 $ 26,048Maruichi Steel Tube, Ltd. 8,400 215,497Materion Corp. 2,578 135,345Mitsubishi Materials Corp. 17,000 387,819Newcrest Mining, Ltd. 99,691 2,020,030Newmont Corp. 149,548 8,744,072Nippon Steel Corp. 123,778 1,142,902Norsk Hydro ASA (A) 82,402 209,474Northam Platinum, Ltd. (A) 43,687 274,105Novagold Resources, Inc. (A) 29,145 278,626Nucor Corp. 55,309 2,337,358Olympic Steel, Inc. 1,274 14,052POSCO 15,651 2,302,602Press Metal Aluminium Holdings BHD 145,300 126,087Reliance Steel & Aluminum Company 17,870 1,733,390Rio Tinto PLC 99,744 5,409,553Rio Tinto, Ltd. 48,354 3,020,149Royal Gold, Inc. 17,584 2,342,189Ryerson Holding Corp. (A) 2,118 10,569Schnitzer Steel Industries, Inc., Class A 3,344 52,501Sibanye Stillwater, Ltd. (A) 282,262 518,343South32, Ltd. 638,490 807,284Southern Copper Corp. (B) 13,200 479,160Steel Dynamics, Inc. 57,759 1,534,079Sumitomo Metal Mining Company, Ltd. 36,100 1,006,341SunCoke Energy, Inc. 9,312 31,754Synalloy Corp. (A) 1,246 11,638Teck Resources, Ltd., Class B 84,456 802,327thyssenkrupp AG (A)(B) 58,138 395,129TimkenSteel Corp. (A) 5,590 19,565United States Steel Corp. (B) 45,584 366,495Vale SA 319,871 3,176,951voestalpine AG 23,859 465,956Warrior Met Coal, Inc. 6,489 91,365Wheaton Precious Metals Corp. 76,160 3,281,266Worthington Industries, Inc. 14,802 442,876Zhaojin Mining Industry Company, Ltd.,

H Shares 126,600 153,350Zijin Mining Group Company, Ltd.,

H Shares 710,329 283,67798,129,420

Paper and forest products – 0.1%Boise Cascade Company (B) 4,908 167,019Clearwater Paper Corp. (A) 2,049 59,360Domtar Corp. 15,354 313,222Empresas CMPC SA 169,907 346,013Indah Kiat Pulp & Paper Corp. Tbk PT 274,900 99,156Lee & Man Paper Manufacturing, Ltd. 172,500 93,357Louisiana-Pacific Corp. 45,735 1,079,803Mondi PLC 43,885 825,711Neenah, Inc. 2,130 107,693Nine Dragons Paper Holdings, Ltd. 212,200 186,587Oji Holdings Corp. 133,900 673,529Pabrik Kertas Tjiwi Kimia Tbk PT 139,500 38,018PH Glatfelter Company 5,563 85,726Schweitzer-Mauduit International, Inc. 3,888 118,156Stora Enso OYJ, R Shares 76,027 933,097Suzano SA (A) 54,567 387,142UPM-Kymmene OYJ 69,679 2,010,503Verso Corp., Class A (A)(B) 4,426 63,646West Fraser Timber Company, Ltd. 9,521 257,655

7,845,393318,024,573


COMMON STOCKS (continued)Real estate – 3.2%Equity real estate investment trusts – 2.5%Acadia Realty Trust 10,947 $ 128,408Agree Realty Corp. 5,187 325,588Alexander & Baldwin, Inc. 8,827 100,716Alexander’s, Inc. 268 69,637Alexandria Real Estate Equities, Inc. 16,665 2,561,744American Assets Trust, Inc. 6,163 161,286American Campus Communities, Inc. 36,836 1,189,803American Finance Trust, Inc. 13,563 99,281American Tower Corp. 60,209 15,544,158Apartment Investment & Management

Company, A Shares 20,235 746,064Armada Hoffler Properties, Inc. 7,156 61,685Ascendas Real Estate Investment Trust 128,500 285,980Ashford Hospitality Trust, Inc. 15,477 10,679AvalonBay Communities, Inc. 18,984 2,961,694Bluerock Residential Growth REIT, Inc. 3,263 20,981Boston Properties, Inc. 19,547 1,680,651Braemar Hotels & Resorts, Inc. 4,401 14,963Brixmor Property Group, Inc. 79,847 891,093BRT Apartments Corp. 1,391 15,690Camden Property Trust 25,959 2,377,066Canadian Apartment Properties REIT (B) 14,850 506,271CapitaLand Commercial Trust 116,000 144,114CapitaLand Mall Trust 114,400 165,063CareTrust REIT, Inc. 12,115 225,702CatchMark Timber Trust, Inc., Class A 6,459 50,703Chatham Lodging Trust 6,139 41,438CIM Commercial Trust Corp. 1,676 16,592City Office REIT, Inc. 6,792 63,030Clipper Realty, Inc. 2,080 15,350Community Healthcare Trust, Inc. 2,413 87,881CoreCivic, Inc. 46,951 564,821CorEnergy Infrastructure Trust, Inc. 1,733 17,330CorePoint Lodging, Inc. 5,774 22,865CoreSite Realty Corp. 10,805 1,348,680Corporate Office Properties Trust 30,041 750,124Cousins Properties, Inc. 39,344 1,224,385Covivio 2,494 145,717Crown Castle International Corp. 56,515 9,729,622CyrusOne, Inc. 30,347 2,255,996Daiwa House REIT Investment Corp. 300 739,825Dexus 141,956 853,952DiamondRock Hospitality Company 25,691 153,889Digital Realty Trust, Inc. 35,730 5,129,399Diversified Healthcare Trust 30,344 108,632Douglas Emmett, Inc. 44,187 1,297,330Duke Realty Corp. 49,962 1,722,690Easterly Government Properties, Inc. 9,300 233,151EastGroup Properties, Inc. 15,133 1,759,211EPR Properties 21,033 664,012Equinix, Inc. 11,986 8,361,793Equity Residential 47,449 2,873,511Essential Properties Realty Trust, Inc. 11,594 158,142Essex Property Trust, Inc. 8,982 2,180,560Extra Space Storage, Inc. 17,604 1,703,187Farmland Partners, Inc. 3,699 25,523Federal Realty Investment Trust 9,548 762,981Fibra Uno Administracion SA de CV 419,700 321,951First Capital Real Estate

Investment Trust 20,660 196,419First Industrial Realty Trust, Inc. 49,883 1,889,568Fortress REIT, Ltd., Class A 133,482 84,370Four Corners Property Trust, Inc. 8,857 191,488Franklin Street Properties Corp. 13,333 71,198


99


COMMON STOCKS (continued)Equity real estate investment trusts (continued)Front Yard Residential Corp. 6,309 $ 47,318Gecina SA 2,456 315,560Getty Realty Corp. 4,185 111,405Gladstone Commercial Corp. 4,169 74,708Gladstone Land Corp. 2,394 34,713Global Medical REIT, Inc. 4,879 52,303Global Net Lease, Inc. 11,407 160,040Goodman Group 214,161 2,200,138Growthpoint Properties, Ltd. 371,463 264,773H&R Real Estate Investment Trust 26,273 185,095Hannon Armstrong Sustainable

Infrastructure Capital, Inc. 7,986 231,674Healthcare Realty Trust, Inc. 52,510 1,612,057Healthpeak Properties, Inc. 67,274 1,657,631Hersha Hospitality Trust 4,775 24,066Highwoods Properties, Inc. 27,812 1,064,365Host Hotels & Resorts, Inc. 97,480 1,163,911Hudson Pacific Properties, Inc. 44,667 1,079,601ICADE 1,434 102,803Independence Realty Trust, Inc. 11,436 113,102Industrial Logistics Properties Trust 8,100 151,875Innovative Industrial Properties, Inc. 2,053 167,771Investors Real Estate Trust 1,464 103,798Iron Mountain, Inc. 39,029 1,005,387iStar, Inc. 7,507 82,052Japan Prime Realty Investment Corp. 119 362,586Japan Real Estate Investment Corp. 202 1,099,473Japan Retail Fund Investment Corp. 403 531,504JBG SMITH Properties 31,642 940,717Jernigan Capital, Inc. 2,930 35,365Kilroy Realty Corp. 26,146 1,493,460Kimco Realty Corp. 57,392 637,625Kite Realty Group Trust 10,515 101,996Klepierre SA 10,495 199,603Lamar Advertising Company, Class A 23,058 1,528,745Land Securities Group PLC 62,058 466,683Lexington Realty Trust 30,263 294,156Life Storage, Inc. 12,506 1,219,085Link REIT 252,825 1,909,254LTC Properties, Inc. 4,963 182,688Mack-Cali Realty Corp. 35,300 536,913Mapletree Commercial Trust 93,700 133,309Medical Properties Trust, Inc. 138,716 2,507,985Mid-America Apartment

Communities, Inc. 15,505 1,804,162Mirvac Group 509,557 799,434Monmouth Real Estate Investment Corp. 11,916 154,670National Health Investors, Inc. 5,368 297,870National Retail Properties, Inc. 46,013 1,444,348National Storage Affiliates Trust 7,462 223,935New Senior Investment Group, Inc. 11,027 31,978NexPoint Residential Trust, Inc. 2,514 80,398Nippon Building Fund, Inc. 206 1,288,354Nippon Prologis REIT, Inc. 303 853,944Nomura Real Estate Master Fund, Inc. 632 775,871Office Properties Income Trust 6,048 152,954Omega Healthcare Investors, Inc. 58,576 1,824,057One Liberty Properties, Inc. 2,068 32,778Orix JREIT, Inc. 401 579,589Park Hotels & Resorts, Inc. 64,175 630,840Pebblebrook Hotel Trust 51,635 705,334Pennsylvania Real Estate

Investment Trust 10,793 12,196Physicians Realty Trust 76,628 1,323,366


COMMON STOCKS (continued)Equity real estate investment trusts (continued)Piedmont Office Realty Trust, Inc.,

Class A 15,751 $ 262,727PotlatchDeltic Corp. 26,385 896,826Preferred Apartment Communities, Inc.,

Class A 6,079 42,492Prologis, Inc. 100,350 9,182,025PS Business Parks, Inc. 7,877 1,052,682Public Storage 20,420 4,139,951QTS Realty Trust, Inc., Class A 7,249 497,281Rayonier, Inc. 37,120 881,600Realty Income Corp. 46,584 2,576,561Redefine Properties, Ltd. 682,260 75,177Regency Centers Corp. 22,779 974,713Retail Opportunity Investments Corp. 14,617 137,254Retail Value, Inc. 2,047 23,725Rexford Industrial Realty, Inc. 14,312 569,618RioCan Real Estate Investment Trust 31,548 333,616RLJ Lodging Trust 21,539 222,067RPT Realty 9,995 57,671Ryman Hospitality Properties, Inc. 6,220 212,600Sabra Health Care REIT, Inc. 80,625 1,085,213Safehold, Inc. 1,574 86,239Saul Centers, Inc. 1,569 47,666SBA Communications Corp. 15,306 4,808,074Scentre Group 680,815 1,014,863Segro PLC 96,970 1,007,667Seritage Growth Properties, Class A (A) 4,512 35,509Service Properties Trust 44,116 297,783Simon Property Group, Inc. 41,712 2,406,782SL Green Realty Corp. 11,079 466,647SmartCentres Real Estate

Investment Trust 14,967 218,496Spirit Realty Capital, Inc. 26,736 760,104STAG Industrial, Inc. 18,875 507,738Stockland 307,415 733,968STORE Capital Corp. 57,281 1,107,815Summit Hotel Properties, Inc. 13,305 83,156Sunstone Hotel Investors, Inc. 28,361 250,995Suntec Real Estate Investment Trust 78,100 81,600Tanger Factory Outlet Centers, Inc. 11,487 70,645Taubman Centers, Inc. 16,412 678,472Terreno Realty Corp. 8,265 423,085The British Land Company PLC 77,839 394,525The GEO Group, Inc. 47,506 569,122The GPT Group 251,238 669,101The Macerich Company 29,539 201,161UDR, Inc. 39,833 1,473,024UMH Properties, Inc. 4,650 58,032Unibail-Rodamco-Westfield 7,490 397,253United Urban Investment Corp. 456 482,787Uniti Group, Inc. 23,482 193,727Universal Health Realty Income Trust 1,607 150,078Urban Edge Properties 45,519 443,810Urstadt Biddle Properties, Inc., Class A 3,813 48,654Ventas, Inc. 50,667 1,770,812Vicinity Centres 413,038 444,323Vornado Realty Trust 21,534 779,746Washington Prime Group, Inc. 26,712 17,112Washington Real Estate Investment Trust 10,406 228,204Weingarten Realty Investors 32,425 579,759Welltower, Inc. 55,155 2,794,704Weyerhaeuser Company 101,287 2,044,985Whitestone REIT 5,109 31,420Xenia Hotels & Resorts, Inc. 14,524 130,716

169,523,162


100


COMMON STOCKS (continued)Real estate management and development – 0.7%Aeon Mall Company, Ltd. 15,900 $ 223,408Agile Group Holdings, Ltd. 174,600 181,210Altisource Portfolio Solutions SA (A) 835 11,882Aroundtown SA 176,361 969,997Ayala Land, Inc. 1,008,070 638,369Azrieli Group, Ltd. 5,196 273,981BR Malls Participacoes SA 80,419 147,838Bumi Serpong Damai Tbk PT (A) 830,200 36,200CapitaLand, Ltd. (A) 117,800 241,886CBRE Group, Inc., Class A (A) 45,505 2,001,310Central Pattana PCL, NVDR 237,100 369,057China Aoyuan Group, Ltd. 156,000 167,274China Evergrande Group (B) 239,035 503,822China Jinmao Holdings Group, Ltd. 670,400 468,040China Overseas Land & Investment, Ltd. 494,297 1,515,900China Resources Land, Ltd. 410,705 1,637,813China Vanke Company, Ltd., H Shares 189,500 618,621CIFI Holdings Group Company, Ltd. 350,700 254,769City Developments, Ltd. 20,800 113,786CK Asset Holdings, Ltd. 314,698 1,728,495Country Garden Holdings Company, Ltd. 986,167 1,234,427CTO Realty Growth, Inc. 670 27,993Cushman & Wakefield PLC (A)(B) 14,357 147,159Daito Trust Construction Company, Ltd. 11,100 1,174,505Daiwa House Industry Company, Ltd. 88,100 2,185,990Dalian Wanda Commercial Properties

Company, Ltd., H Shares (A)(C) 37,400 254,753Deutsche Wohnen SE 51,794 2,319,247eXp World Holdings, Inc. (A) 2,653 28,361Forestar Group, Inc. (A) 2,212 33,556FRP Holdings, Inc. (A) 924 36,544Guangzhou R&F Properties

Company, Ltd., H Shares 167,800 208,509Hang Lung Properties, Ltd. 242,000 512,182Henderson Land Development

Company, Ltd. 173,376 623,776Highwealth Construction Corp. 88,687 131,235Hongkong Land Holdings, Ltd. 141,800 535,036Hulic Company, Ltd. 46,600 471,864Jones Lang LaSalle, Inc. 13,816 1,414,758Kaisa Group Holdings, Ltd. 320,800 118,305Kennedy-Wilson Holdings, Inc. 15,616 218,936Kerry Properties, Ltd. 79,768 189,713KWG Group Holdings, Ltd. (A) 163,000 228,874Land & Houses PCL, NVDR 870,500 200,375Lendlease Group 73,369 634,252Logan Property Holdings Company, Ltd. 176,500 265,268Longfor Group Holdings, Ltd. (C) 228,800 1,046,333Marcus & Millichap, Inc. (A) 2,940 81,056Maui Land & Pineapple

Company, Inc. (A) 994 10,447Megaworld Corp. 1,603,700 90,481Mitsubishi Estate Company, Ltd. 183,800 2,921,386Mitsui Fudosan Company, Ltd. 137,004 2,635,600Multiplan Empreendimentos

Imobiliarios SA 27,901 108,178NEPI Rockcastle PLC 48,617 248,599New World Development Company, Ltd. 736,257 748,310Newmark Group, Inc., Class A 18,322 77,869Nomura Real Estate Holdings, Inc. 19,700 363,623Pakuwon Jati Tbk PT 1,752,700 43,588Rafael Holdings, Inc., Class B (A) 1,392 24,068RE/MAX Holdings, Inc., Class A (B) 2,289 64,069Realogy Holdings Corp. (B) 14,598 88,464Redfin Corp. (A)(B) 11,349 340,357


COMMON STOCKS (continued)Real estate management and development (continued)Robinsons Land Corp. 288,700 $ 84,471Ruentex Development Company, Ltd. 70,080 106,964Seazen Group, Ltd. (A) 278,800 260,427Shanghai Lujiazui Finance & Trade Zone

Development Company, Ltd.,B Shares 133,451 94,504

Shenzhen Investment, Ltd. 372,900 115,582Shimao Property Holdings, Ltd. 148,200 621,527Shui On Land, Ltd. 480,400 79,695Sino Land Company, Ltd. 374,075 439,075Sino-Ocean Group Holding, Ltd. 383,358 89,306SM Prime Holdings, Inc. (A) 1,378,100 822,598SOHO China, Ltd. (A) 261,500 88,699Sumitomo Realty & Development

Company, Ltd. 51,783 1,433,919Sun Hung Kai Properties, Ltd. 193,500 2,266,400Sunac China Holdings, Ltd. 313,700 1,326,012Swire Pacific, Ltd., Class A 61,000 320,938Swire Properties, Ltd. 141,400 317,267Swiss Prime Site AG 9,362 874,964Tejon Ranch Company (A) 2,772 39,750The RMR Group, Inc., Class A 1,949 52,545The St. Joe Company (A)(B) 4,247 81,755The Wharf Holdings, Ltd. (B) 139,125 250,002Tokyu Fudosan Holdings Corp. 96,200 486,428UOL Group, Ltd. 21,700 105,465Vonovia SE 74,161 4,265,593Wharf Real Estate Investment

Company, Ltd. (B) 146,125 566,655Wheelock & Company, Ltd. 100,000 678,830Yuexiu Property Company, Ltd. 871,500 157,358Yuzhou Properties Company, Ltd. 238,600 98,386Zhenro Properties Group, Ltd. 189,000 120,475

50,437,294219,960,456

Utilities – 2.8%Electric utilities – 1.6%ALLETE, Inc. 20,406 1,198,444Alliant Energy Corp. 24,537 1,211,146American Electric Power Company, Inc. 50,427 4,298,902AusNet Services 234,562 275,031Centrais Eletricas Brasileiras SA 26,200 140,567CEZ AS 22,122 435,294Chubu Electric Power Company, Inc. 99,400 1,339,888CK Infrastructure Holdings, Ltd. 80,000 401,994CLP Holdings, Ltd. 198,000 1,943,517Duke Energy Corp. 74,427 6,373,184Edison International 36,610 2,127,407EDP - Energias de Portugal SA 330,758 1,545,164El Paso Electric Company 5,086 345,695Electricite de France SA 33,899 302,478Emera, Inc. (B) 41,836 1,663,291Endesa SA 45,804 1,094,089Enel Americas SA 5,756,609 837,887Enel Chile SA 4,154,047 311,346Enel SpA 825,422 6,381,934Energisa SA 16,200 144,201Entergy Corp. 20,325 2,069,492Equatorial Energia SA (A) 85,290 320,459Evergy, Inc. 23,267 1,435,341Eversource Energy 33,052 2,766,452Exelon Corp. 99,244 3,802,038FirstEnergy Corp. 55,152 2,330,724Fortis, Inc. 76,417 2,942,125Fortum OYJ 58,154 1,119,959


101


COMMON STOCKS (continued)Electric utilities (continued)Genie Energy, Ltd., B Shares 1,943 $ 16,729Hawaiian Electric Industries, Inc. 29,214 1,152,784HK Electric Investments & HK Electric

Investments, Ltd. 293,500 291,127Hydro One, Ltd. (C) 58,324 1,130,177Iberdrola SA 890,796 9,645,075IDACORP, Inc. 13,511 1,259,631Interconexion Electrica SA ESP 65,453 343,935Korea Electric Power Corp. (A) 50,812 890,990Kyushu Electric Power

Company, Inc. (B) 57,600 480,082Manila Electric Company 30,130 168,759Mercury NZ, Ltd. 42,462 122,990MGE Energy, Inc. 4,424 300,345NextEra Energy, Inc. 49,898 12,751,933NRG Energy, Inc. 25,682 925,836OGE Energy Corp. 53,664 1,680,756Orsted A/S (C) 30,906 3,634,691Otter Tail Corp. 4,992 214,207PGE Polska Grupa Energetyczna SA (A) 59,267 71,480Pinnacle West Capital Corp. 11,475 893,903PNM Resources, Inc. 31,410 1,282,156Portland General Electric Company 11,306 532,626Power Assets Holdings, Ltd. 167,500 937,934PPL Corp. 78,385 2,190,077Red Electrica Corp. SA 61,764 1,087,550Spark Energy, Inc., Class A 1,613 13,259SSE PLC 91,763 1,410,408Tenaga Nasional BHD 323,136 838,440Terna Rete Elettrica Nazionale SpA 138,300 939,571The Chugoku Electric Power

Company, Inc. 41,900 576,273The Kansai Electric Power

Company, Inc. 109,200 1,089,703The Southern Company 107,065 6,110,200Tohoku Electric Power Company, Inc. 64,900 673,680Tokyo Electric Power Company

Holdings, Inc. (A) 238,700 806,957Verbund AG 13,968 622,766Xcel Energy, Inc. 53,534 3,481,316

107,726,395Gas utilities – 0.3%AltaGas, Ltd. (B) 49,190 528,037APA Group 153,161 1,186,963Atmos Energy Corp. 12,183 1,252,169Beijing Enterprises Holdings, Ltd. 68,214 227,730Chesapeake Utilities Corp. (B) 2,020 182,487China Gas Holdings, Ltd. 234,000 827,271China Resources Gas Group, Ltd. 114,100 625,067Enagas SA 35,447 798,965ENN Energy Holdings, Ltd. 101,100 1,186,915Hong Kong & China Gas Company, Ltd. 1,219,989 2,058,268Infraestructura Energetica Nova SAB

de CV 69,135 197,043Korea Gas Corp. 5,651 136,849Kunlun Energy Company, Ltd. 456,490 281,543National Fuel Gas Company 23,142 971,270Naturgy Energy Group SA 42,197 786,917New Jersey Resources Corp. 37,638 1,321,847Northwest Natural Holding Company (B) 3,810 244,259ONE Gas, Inc. 20,715 1,739,439Osaka Gas Company, Ltd. 57,300 1,150,144Perusahaan Gas Negara Tbk PT 1,068,369 63,137Petronas Gas BHD 80,499 352,336RGC Resources, Inc. 994 26,242


COMMON STOCKS (continued)Gas utilities (continued)Snam SpA 200,648 $ 939,908South Jersey Industries, Inc. 11,715 332,237Southwest Gas Holdings, Inc. 21,497 1,632,697Spire, Inc. 19,917 1,452,348Toho Gas Company, Ltd. 11,245 558,090Tokyo Gas Company, Ltd. 58,000 1,388,634Towngas China Company, Ltd. (A) 134,900 62,304UGI Corp. 56,032 1,784,059

24,295,175Independent power and renewable electricity producers –0.1%Aboitiz Power Corp. 198,800 109,707AES Corp. 67,766 846,397Atlantic Power Corp. (A) 15,005 31,511B. Grimm Power PCL, NVDR 78,000 129,531CGN Power Company, Ltd., H

Shares (C) 1,341,700 309,087China Common Rich Renewable Energy

Investments, Ltd. (A)(D) 1,136,000 31,509China Longyuan Power Group Corp.,

Ltd., H Shares 404,300 197,450China Power International

Development, Ltd. 522,900 114,848China Resources Power Holdings

Company, Ltd. 250,332 291,616Clearway Energy, Inc., Class A 4,482 90,940Clearway Energy, Inc., Class C 9,936 217,698Colbun SA 1,188,587 194,415Datang International Power Generation

Company, Ltd., H Shares 361,200 48,704Electric Power Development

Company, Ltd. 22,400 424,093Electricity Generating PCL, NVDR 30,300 263,443Energy Absolute PCL, NVDR 169,100 207,712Engie Brasil Energia SA 19,383 154,046Global Power Synergy PCL, NVDR 71,700 170,338Gulf Energy Development PCL,

NVDR (B) 272,600 323,737Huadian Power International Corp., Ltd.,

H Shares 199,100 61,315Huaneng Power International, Inc.,

H Shares 491,864 183,599Meridian Energy, Ltd. 76,989 228,019Ormat Technologies, Inc. 5,000 364,050Ratch Group PCL, NVDR 74,700 164,524Sunnova Energy International, Inc. (A) 4,087 61,305TerraForm Power, Inc., Class A 10,026 184,278Uniper SE 28,898 903,826

6,307,698Multi-utilities – 0.7%AGL Energy, Ltd. 83,719 937,950Algonquin Power & Utilities Corp. 91,722 1,284,381Ameren Corp. 25,115 1,876,844Atco, Ltd., Class I 14,446 407,197Avista Corp. 8,383 328,362Black Hills Corp. 24,182 1,492,271Canadian Utilities, Ltd., Class A 23,814 571,460CenterPoint Energy, Inc. 51,272 911,616Centrica PLC 506,935 229,984CMS Energy Corp. 28,974 1,697,297Consolidated Edison, Inc. 33,937 2,547,311Dominion Energy, Inc. 84,029 7,143,305DTE Energy Company 19,612 2,109,663E.ON SE 323,825 3,435,027Engie SA 100,071 1,189,273


102


COMMON STOCKS (continued)Multi-utilities (continued)MDU Resources Group, Inc. 53,719 $ 1,168,925National Grid PLC 308,301 3,547,175NiSource, Inc. 38,131 908,662NorthWestern Corp. 19,914 1,197,230Public Service Enterprise Group, Inc. 51,630 2,635,195RWE AG 84,540 2,817,310Sempra Energy 28,779 3,635,075Suez SA 17,339 197,700Unitil Corp. 1,851 89,163Veolia Environnement SA 29,206 643,115WEC Energy Group, Inc. 32,203 2,953,981YTL Corp. BHD 265,897 63,717

46,019,189Water utilities – 0.1%Aguas Andinas SA, Class A 382,915 112,473American States Water Company 4,599 377,164American Water Works Company, Inc. 18,454 2,343,658Artesian Resources Corp., Class A 1,037 36,409Beijing Enterprises Water

Group, Ltd. (A) 629,700 239,373Cadiz, Inc. (A)(B) 1,817 20,114California Water Service Group 6,076 285,572Cia de Saneamento Basico do Estado de

Sao Paulo 34,298 349,131Consolidated Water Company, Ltd. 1,864 27,643Essential Utilities, Inc. 57,863 2,532,085Global Water Resources, Inc. 1,685 18,114Guangdong Investment, Ltd. 375,980 743,472Middlesex Water Company 2,129 144,474Pure Cycle Corp. (A) 2,640 26,822Severn Trent PLC 20,981 635,315SJW Group 3,330 209,257The York Water Company 1,639 72,772United Utilities Group PLC 60,257 685,981

8,859,829193,208,286

TOTAL COMMON STOCKS (Cost $6,175,978,732) $ 6,452,572,842

PREFERRED SECURITIES – 0.4%Communication services – 0.0%Diversified telecommunication services – 0.0%Telefonica Brasil SA 44,954 397,116Media – 0.0%GCI Liberty, Inc., 7.000% 974 25,012

422,128Consumer discretionary – 0.1%Automobiles – 0.1%Bayerische Motoren Werke AG 8,037 371,113Hyundai Motor Company 4,704 214,733Hyundai Motor Company, 2nd Preferred 7,278 355,212Porsche Automobil Holding SE 22,605 1,242,732Volkswagen AG 27,052 4,005,595

6,189,385Internet and direct marketing retail – 0.0%Overstock.com, Inc., 1.020% 522 6,264Multiline retail – 0.0%Lojas Americanas SA 75,526 399,829

6,595,478Consumer staples – 0.1%Beverages – 0.0%Embotelladora Andina SA, B Shares 54,148 129,958


PREFERREDSECURITIES (continued)Household products – 0.1%Henkel AG & Company KGaA 25,747 $ 2,302,665Personal products – 0.0%Amorepacific Corp. 1,787 83,577LG Household & Health Care, Ltd. 408 236,354

319,9312,752,554

Energy – 0.0%Oil, gas and consumable fuels – 0.0%Petroleo Brasileiro SA 425,333 1,621,212Financials – 0.1%Banks – 0.1%Banco Bradesco SA 448,044 1,591,071Bancolombia SA 66,739 440,155Grupo Aval Acciones y Valores SA 587,215 132,399Itau Unibanco Holding SA 486,867 2,102,096Itausa - Investimentos Itau SA 441,559 733,132

4,998,853Health care – 0.0%Health care equipment and supplies – 0.0%Sartorius AG 5,134 1,913,905Information technology – 0.1%Technology hardware, storage and peripherals – 0.1%Samsung Electronics Company, Ltd. 163,584 5,695,383Materials – 0.0%Chemicals – 0.0%Braskem SA, A Shares 18,983 98,680FUCHS PETROLUB SE 9,811 392,762LG Chem, Ltd. 1,560 223,938Sociedad Quimica y Minera de Chile

SA, B Shares 17,315 425,0661,140,446

Metals and mining – 0.0%Gerdau SA 110,383 277,804

1,418,250Utilities – 0.0%Electric utilities – 0.0%Centrais Eletricas Brasileiras SA,

B Shares 25,879 148,883Cia Energetica de Minas Gerais 92,548 187,306

336,189TOTAL PREFERRED SECURITIES (Cost $29,031,745) $ 25,753,952

EXCHANGE-TRADED FUNDS – 1.4%iShares MSCI India ETF (B) 2,024,027 55,640,502iShares MSCI Russia ETF (B) 23,491 807,386KraneShares Bosera MSCI China A

ETF (B) 339,628 10,497,901VanEck Vectors Russia ETF (B) 377,748 7,789,164Xtrackers Harvest CSI 300 China

A-Shares ETF (B) 780,668 21,257,590TOTAL EXCHANGE-TRADED FUNDS (Cost $96,520,122) $ 95,992,543

RIGHTS – 0.0%Ferrovial SA (Expiration

Date: 6-3-20) (A)(D)(E) 70,758 26,171Pan American Silver Corp. (Expiration

Date: 2-22-29) (A)(E) 37,553 24,406


103


RIGHTS (continued)Pulse Biosciences, Inc. (Expiration

Date: 6-8-20; Strike Price: $7.01) (A) 1,643 $ 3,417Whitbread PLC (Expiration

Date: 6-10-20; Strike Price: GBP15.00) (A) 5,958 73,728

TOTAL RIGHTS (Cost $144,269) $ 127,722

WARRANTS – 0.0%BTS Group Holdings PCL (Expiration

Date: 2-16-21; Strike Price: THB14.00) (A) 2,410 102

BTS Group Holdings PCL (ExpirationDate: 2-16-21; Strike Price: THB14.00) (A) 63,720 2,684

Minor International PCL (ExpirationDate: 10-1-21; Strike Price: THB48.00) (A) 1,847 99

TOTAL WARRANTS (Cost $0) $ 2,885

SHORT-TERM INVESTMENTS – 4.9%U.S. Government Agency – 1.8%Federal Home Loan Bank Discount Note

0.030%, 09/01/2020 * $ 20,000,000 19,991,8220.040%, 07/27/2020 * 4,700,000 4,699,0500.060%, 10/01/2020 * 40,000,000 39,976,9560.100%, 07/23/2020 * 20,000,000 19,996,2440.110%, 09/14/2020 * 20,000,000 19,990,6670.110%, 07/21/2020 * 1,200,000 1,199,7830.120%, 06/24/2020 * 9,620,000 9,619,3240.950%, 08/03/2020 * 5,000,000 4,998,688

120,472,534Short-term funds – 2.5%John Hancock Collateral Trust,

0.3653% (F)(G) 17,307,324 173,275,738Repurchase agreement – 0.6%Repurchase Agreement with State Street


TOTAL SHORT-TERM INVESTMENTS (Cost $332,464,546) $ 332,643,272Total Investments (Strategic Equity Allocation Fund)


Strategic Equity Allocation Fund (continued)Currency AbbreviationsGBP Pound SterlingTHB Thai Bhat

Security Abbreviations and LegendADR American Depositary ReceiptNVDR Non-Voting Depositary Receipt(A) Non-income producing security.(B) All or a portion of this security is on loan as of 5-31-20. The value




(E) Strike price and/or expiration date not available.(F) The rate shown is the annualized seven-day yield as of 5-31-20.(G) Investment is an affiliate of the fund, the advisor and/or subadvisor.



DERIVATIVES

FUTURES



dateNotional

basis^Notional

value^


(depreciation)Canadian Dollar Currency Futures 92 Long Jun 2020 $6,572,748 $6,675,520 $102,772MSCI EAFE Index Futures 668 Long Jun 2020 53,344,832 57,635,041 4,290,209MSCI Emerging Markets Index Futures 425 Long Jun 2020 18,818,626 19,824,125 1,005,499Russell 2000 E-Mini Index Futures 189 Long Jun 2020 13,213,156 13,161,960 (51,196)S&P 500 Index E-Mini Futures 714 Long Jun 2020 105,030,276 108,465,525 3,435,249S&P Mid 400 Index E-Mini Futures 113 Long Jun 2020 19,806,255 19,913,990 107,735S&P/TSX 60 Index Futures 48 Long Jun 2020 5,982,483 6,384,661 402,178

$9,292,446



104

U.S. High Yield Bond FundShares orPrincipalAmount Value

CORPORATE BONDS – 92.2%Communication services – 16.3%Block Communications, Inc.

4.875%, 03/01/2028 (A) $ 125,000 $ 124,375CCO Holdings LLC

4.000%, 03/01/2023 (A) 50,000 50,3764.500%, 08/15/2030 to 05/01/2032 (A) 800,000 828,7115.000%, 02/01/2028 (A) 125,000 130,9215.125%, 05/01/2027 (A) 250,000 262,5055.375%, 05/01/2025 (A) 2,150,000 2,209,1255.750%, 02/15/2026 (A) 2,700,000 2,815,2365.875%, 04/01/2024 (A) 175,000 179,776

Cinemark USA, Inc.8.750%, 05/01/2025 (A) 75,000 78,188

CSC Holdings LLC5.375%, 07/15/2023 to 02/01/2028 (A) 1,105,000 1,139,6225.500%, 05/15/2026 (A) 1,125,000 1,175,2886.500%, 02/01/2029 (A) 350,000 386,3867.500%, 04/01/2028 (A) 550,000 609,1257.750%, 07/15/2025 (A) 1,125,000 1,172,813

Diamond Sports Group LLC5.375%, 08/15/2026 (A) 125,000 99,3756.625%, 08/15/2027 (A) 1,475,000 887,508

Gray Television, Inc.5.125%, 10/15/2024 (A) 975,000 987,1885.875%, 07/15/2026 (A) 2,000,000 2,065,0007.000%, 05/15/2027 (A) 200,000 211,250

Intelsat Connect Finance SA9.500%, 02/15/2023 (A)(B) 275,000 68,750

Intelsat Jackson Holdings SA5.500%, 08/01/2023 (B) 3,375,000 1,780,3138.500%, 10/15/2024 (A)(B) 1,100,000 627,000

Intelsat Luxembourg SA8.125%, 06/01/2023 (B) 650,000 34,125

Lamar Media Corp.3.750%, 02/15/2028 (A) 700,000 679,0004.000%, 02/15/2030 (A) 700,000 673,7505.750%, 02/01/2026 50,000 52,063

Level 3 Financing, Inc.5.125%, 05/01/2023 665,000 664,1695.375%, 08/15/2022 to 01/15/2024 845,000 851,3135.625%, 02/01/2023 310,000 310,580

Live Nation Entertainment, Inc.6.500%, 05/15/2027 (A) 150,000 159,281

Match Group, Inc.4.125%, 08/01/2030 (A) 125,000 122,500

Nexstar Broadcasting, Inc.5.625%, 07/15/2027 (A) 2,095,000 2,147,375

Nielsen Finance LLC5.000%, 04/15/2022 (A) 2,825,000 2,820,621

Outfront Media Capital LLC4.625%, 03/15/2030 (A) 1,225,000 1,127,0005.000%, 08/15/2027 (A) 25,000 24,3375.625%, 02/15/2024 375,000 376,875

Salem Media Group, Inc.6.750%, 06/01/2024 (A)(C) 2,100,000 1,743,000

Scripps Escrow, Inc.5.875%, 07/15/2027 (A) 125,000 118,750

Sprint Capital Corp.6.875%, 11/15/2028 140,000 172,9008.750%, 03/15/2032 820,000 1,178,750

The EW Scripps Company5.125%, 05/15/2025 (A) 2,050,000 1,906,500

The Nielsen Company LuxembourgSARL5.000%, 02/01/2025 (A)(C) 400,000 402,120

U.S. High Yield Bond Fund (continued)Shares orPrincipalAmount Value

CORPORATE BONDS (continued)Communication services (continued)T-Mobile USA, Inc.

4.500%, 02/01/2026 $ 75,000 $ 77,0904.750%, 02/01/2028 325,000 345,3165.125%, 04/15/2025 250,000 255,0005.375%, 04/15/2027 875,000 929,6886.375%, 03/01/2025 1,550,000 1,598,531

Zayo Group Holdings, Inc.4.000%, 03/01/2027 (A) 200,000 197,000

36,856,465Consumer discretionary – 12.4%Asbury Automotive Group, Inc.

4.500%, 03/01/2028 (A) 360,000 341,1004.750%, 03/01/2030 (A) 347,000 333,120

Carriage Services, Inc.6.625%, 06/01/2026 (A) 1,750,000 1,828,750

CCM Merger, Inc.6.000%, 03/15/2022 (A) 3,050,000 2,851,750

Clarios Global LP6.750%, 05/15/2025 (A) 75,000 77,828

Connect Finco SARL6.750%, 10/01/2026 (A) 450,000 436,500

Cooper Tire & Rubber Company7.625%, 03/15/2027 2,410,000 2,506,400

Ford Motor Company4.750%, 01/15/2043 1,375,000 1,051,8759.000%, 04/22/2025 150,000 157,6889.625%, 04/22/2030 (C) 150,000 166,500

Ford Motor Credit Company LLC4.389%, 01/08/2026 1,450,000 1,363,0005.113%, 05/03/2029 2,000,000 1,867,600

Group 1 Automotive, Inc.5.000%, 06/01/2022 925,000 906,500

Hilton Domestic OperatingCompany, Inc.4.875%, 01/15/2030 125,000 124,375

KFC Holding Company/Pizza HutHoldings LLC/Taco Bell ofAmerica LLC5.000%, 06/01/2024 (A) 650,000 665,3345.250%, 06/01/2026 (A) 650,000 676,000

Levi Strauss & Company5.000%, 05/01/2025 175,000 178,500

Lithia Motors, Inc.4.625%, 12/15/2027 (A) 200,000 193,0005.250%, 08/01/2025 (A) 1,025,000 1,004,500

NCL Corp., Ltd.3.625%, 12/15/2024 (A) 250,000 150,000

Panther BF Aggregator 2 LP6.250%, 05/15/2026 (A) 100,000 101,750

Penske Automotive Group, Inc.3.750%, 08/15/2020 415,000 410,8875.375%, 12/01/2024 1,125,000 1,096,8755.750%, 10/01/2022 2,000,000 2,005,000

Royal Caribbean Cruises, Ltd.3.700%, 03/15/2028 450,000 303,967

Service Corp. International4.625%, 12/15/2027 425,000 447,2285.125%, 06/01/2029 1,175,000 1,266,0637.500%, 04/01/2027 450,000 499,5008.000%, 11/15/2021 2,145,000 2,262,975

Sonic Automotive, Inc.6.125%, 03/15/2027 350,000 347,155

Telesat Canada6.500%, 10/15/2027 (A) 350,000 343,235


105


CORPORATE BONDS (continued)Consumer discretionary (continued)The William Carter Company

5.500%, 05/15/2025 (A) $ 150,000 $ 154,5005.625%, 03/15/2027 (A) 375,000 383,059

Wyndham Hotels & Resorts, Inc.5.375%, 04/15/2026 (A) 1,270,000 1,206,665

Yum! Brands, Inc.4.750%, 01/15/2030 (A) 150,000 155,4937.750%, 04/01/2025 (A) 150,000 165,750

28,030,422Consumer staples – 1.5%Albertsons Companies, Inc.

4.625%, 01/15/2027 (A) 150,000 152,2494.875%, 02/15/2030 (A) 150,000 155,438

Cott Holdings, Inc.5.500%, 04/01/2025 (A) 375,000 378,203

Darling Ingredients, Inc.5.250%, 04/15/2027 (A) 500,000 520,000

Pilgrim’s Pride Corp.5.750%, 03/15/2025 (A) 940,000 961,1505.875%, 09/30/2027 (A) 125,000 130,000

Prestige Brands, Inc.5.125%, 01/15/2028 (A) 125,000 126,8756.375%, 03/01/2024 (A) 725,000 745,844

Spectrum Brands, Inc.5.750%, 07/15/2025 275,000 283,594

3,453,353Energy – 16.3%Antero Midstream Partners LP

5.750%, 01/15/2028 (A) 1,875,000 1,465,875Apache Corp.

4.250%, 01/15/2030 50,000 43,9584.750%, 04/15/2043 1,175,000 909,934

Archrock Partners LP6.250%, 04/01/2028 (A) 200,000 190,5006.875%, 04/01/2027 (A) 450,000 429,750

Baytex Energy Corp.5.625%, 06/01/2024 (A) 1,400,000 714,0008.750%, 04/01/2027 (A) 2,100,000 1,060,500

Buckeye Partners LP5.850%, 11/15/2043 825,000 687,844

Callon Petroleum Company6.125%, 10/01/2024 732,000 241,5606.250%, 04/15/2023 225,000 73,1258.250%, 07/15/2025 1,350,000 411,750

Cheniere Corpus Christi Holdings LLC5.125%, 06/30/2027 75,000 81,222

Cheniere Energy Partners LP4.500%, 10/01/2029 (A) 350,000 342,1255.250%, 10/01/2025 3,175,000 3,206,7505.625%, 10/01/2026 400,000 407,120

Denbury Resources, Inc.7.750%, 02/15/2024 (A) 743,000 304,6309.000%, 05/15/2021 (A) 1,300,000 559,0009.250%, 03/31/2022 (A) 451,000 180,400

Diamond Offshore Drilling, Inc.4.875%, 11/01/2043 (B) 1,086,000 120,991

EnLink Midstream LLC5.375%, 06/01/2029 1,725,000 1,335,478

EnLink Midstream Partners LP4.150%, 06/01/2025 25,000 20,1254.400%, 04/01/2024 300,000 240,7505.050%, 04/01/2045 1,175,000 683,2635.450%, 06/01/2047 (C) 1,175,000 722,8605.600%, 04/01/2044 750,000 452,730


CORPORATE BONDS (continued)Energy (continued)Enviva Partners LP

6.500%, 01/15/2026 (A) $ 1,550,000 $ 1,639,125Era Group, Inc.

7.750%, 12/15/2022 (C) 1,600,000 1,472,000Hilcorp Energy I LP

5.000%, 12/01/2024 (A)(C) 1,250,000 1,100,0005.750%, 10/01/2025 (A) 1,325,000 1,192,5006.250%, 11/01/2028 (A) 225,000 192,375

MPLX LP5.250%, 01/15/2025 425,000 440,6276.375%, 05/01/2024 275,000 283,994

Murphy Oil Corp.5.750%, 08/15/2025 (C) 125,000 117,0315.875%, 12/01/2027 125,000 116,250

Murphy Oil USA, Inc.4.750%, 09/15/2029 75,000 77,078

NGPL PipeCo LLC4.375%, 08/15/2022 (A) 225,000 229,1877.768%, 12/15/2037 (A)(C) 275,000 328,676

Occidental Petroleum Corp.4.625%, 06/15/2045 1,575,000 938,6216.200%, 03/15/2040 500,000 341,2506.450%, 09/15/2036 3,825,000 2,744,4386.600%, 03/15/2046 375,000 260,625

Oceaneering International, Inc.6.000%, 02/01/2028 1,350,000 904,500

Rockies Express Pipeline LLC3.600%, 05/15/2025 (A) 725,000 657,9384.800%, 05/15/2030 (A) 725,000 661,7804.950%, 07/15/2029 (A) 350,000 324,5556.875%, 04/15/2040 (A) 1,506,000 1,458,2607.500%, 07/15/2038 (A) 201,000 194,468

Southwestern Energy Company6.200%, 01/23/2025 15,000 13,4737.500%, 04/01/2026 (C) 250,000 230,0007.750%, 10/01/2027 (C) 850,000 792,625

Tallgrass Energy Partners LP5.500%, 09/15/2024 (A) 2,500,000 2,387,500

Ultra Resources, Inc.7.125%, 04/15/2025 (A)(B) 2,675,000 1,338

USA Compression Partners LP6.875%, 04/01/2026 to 09/01/2027 1,150,000 1,103,375

Valaris PLC4.875%, 06/01/2022 725,000 72,5005.750%, 10/01/2044 2,575,000 206,000

Western Midstream Operating LP4.050%, 02/01/2030 650,000 583,1805.250%, 02/01/2050 50,000 40,4855.300%, 03/01/2048 1,100,000 858,000

36,849,994Financials – 4.4%AmWINS Group, Inc.

7.750%, 07/01/2026 (A) 1,175,000 1,260,658CIT Group, Inc.

4.125%, 03/09/2021 40,000 39,9006.125%, 03/09/2028 50,000 51,750

FirstCash, Inc.5.375%, 06/01/2024 (A) 1,175,000 1,178,184

HUB International, Ltd.7.000%, 05/01/2026 (A) 500,000 513,535

Ladder Capital Finance Holdings LLLP4.250%, 02/01/2027 (A) 200,000 167,0005.250%, 03/15/2022 to 10/01/2025 (A) 1,500,000 1,294,125

LPL Holdings, Inc.4.625%, 11/15/2027 (A) 250,000 244,688


106


CORPORATE BONDS (continued)Financials (continued)LPL Holdings, Inc. (continued)

5.750%, 09/15/2025 (A) $ 2,425,000 $ 2,521,127Springleaf Finance Corp.

5.375%, 11/15/2029 625,000 554,0636.125%, 03/15/2024 400,000 388,1206.625%, 01/15/2028 400,000 382,0007.125%, 03/15/2026 600,000 591,0008.250%, 10/01/2023 225,000 228,985

USI, Inc.6.875%, 05/01/2025 (A) 475,000 486,680

9,901,815Health care – 10.1%Bausch Health Americas, Inc.

8.500%, 01/31/2027 (A) 300,000 327,855Bausch Health Companies, Inc.

5.000%, 01/30/2028 (A) 250,000 241,5585.250%, 01/30/2030 (A) 250,000 245,6255.500%, 03/01/2023 to 11/01/2025 (A) 1,032,000 1,044,0805.750%, 08/15/2027 (A) 100,000 107,0205.875%, 05/15/2023 (A) 138,000 137,9146.125%, 04/15/2025 (A) 1,265,000 1,283,7096.250%, 02/15/2029 (A) 1,000,000 1,025,0006.500%, 03/15/2022 (A) 175,000 178,0287.000%, 03/15/2024 to 01/15/2028 (A) 425,000 441,3707.250%, 05/30/2029 (A) 50,000 53,900

Centene Corp.5.375%, 08/15/2026 (A) 100,000 105,641

Change Healthcare Holdings LLC5.750%, 03/01/2025 (A) 2,250,000 2,246,783

Charles River LaboratoriesInternational, Inc.4.250%, 05/01/2028 (A) 75,000 75,6335.500%, 04/01/2026 (A) 250,000 261,048

Community Health Systems, Inc.6.625%, 02/15/2025 (A) 1,500,000 1,447,500

DaVita, Inc.4.625%, 06/01/2030 (A) 575,000 573,563

Encompass Health Corp.4.500%, 02/01/2028 225,000 228,3754.750%, 02/01/2030 250,000 253,6435.125%, 03/15/2023 245,000 246,2255.750%, 11/01/2024 to 09/15/2025 65,000 66,340

Hill-Rom Holdings, Inc.4.375%, 09/15/2027 (A) 650,000 667,0635.000%, 02/15/2025 (A) 50,000 51,375

Hologic, Inc.4.375%, 10/15/2025 (A) 1,300,000 1,328,9774.625%, 02/01/2028 (A) 150,000 155,250

IQVIA, Inc.5.000%, 10/15/2026 to 05/15/2027 (A) 700,000 733,000

MEDNAX, Inc.5.250%, 12/01/2023 (A) 150,000 147,0006.250%, 01/15/2027 (A) 325,000 303,875

MPH Acquisition Holdings LLC7.125%, 06/01/2024 (A) 2,225,000 2,102,625

Ortho-Clinical Diagnostics, Inc.7.250%, 02/01/2028 (A) 150,000 149,250

Polaris Intermediate Corp. (8.500% Cashor 9.250% PIK) 8.500%,12/01/2022 (A) 400,000 350,252

Select Medical Corp.6.250%, 08/15/2026 (A) 850,000 893,563

Surgery Center Holdings, Inc.6.750%, 07/01/2025 (A)(C) 325,000 297,375


CORPORATE BONDS (continued)Health care (continued)Tenet Healthcare Corp.

4.625%, 07/15/2024 $ 775,000 $ 784,6884.875%, 01/01/2026 (A) 400,000 411,0845.125%, 11/01/2027 (A) 100,000 103,2507.000%, 08/01/2025 (C) 350,000 351,6777.500%, 04/01/2025 (A) 175,000 190,750

Teva Pharmaceutical FinanceNetherlands III BV4.100%, 10/01/2046 500,000 420,5006.750%, 03/01/2028 (C) 1,600,000 1,712,000

Vizient, Inc.6.250%, 05/15/2027 (A) 1,125,000 1,180,271

22,924,635Industrials – 11.2%ACCO Brands Corp.

5.250%, 12/15/2024 (A) 25,000 25,125Advanced Disposal Services, Inc.

5.625%, 11/15/2024 (A) 1,925,000 1,989,969Allison Transmission, Inc.

4.750%, 10/01/2027 (A) 750,000 727,5005.000%, 10/01/2024 (A) 2,625,000 2,644,6585.875%, 06/01/2029 (A) 350,000 353,500

Covanta Holding Corp.5.875%, 03/01/2024 to 07/01/2025 1,250,000 1,245,7306.000%, 01/01/2027 475,000 467,875

Fortress Transportation & InfrastructureInvestors LLC6.500%, 10/01/2025 (A) 1,625,000 1,360,938

IAA, Inc.5.500%, 06/15/2027 (A) 2,300,000 2,334,500

KAR Auction Services, Inc.5.125%, 06/01/2025 (A) 3,425,000 3,235,906

Navistar International Corp.9.500%, 05/01/2025 (A) 150,000 161,250

RBS Global, Inc.4.875%, 12/15/2025 (A) 1,825,000 1,815,875

Ritchie Bros Auctioneers, Inc.5.375%, 01/15/2025 (A) 2,525,000 2,600,750

Sensata Technologies BV5.625%, 11/01/2024 (A) 1,600,000 1,673,856

Sensata Technologies UK FinancingCompany PLC6.250%, 02/15/2026 (A) 250,000 263,125

Signature Aviation US Holdings, Inc.4.000%, 03/01/2028 (A) 525,000 464,6255.375%, 05/01/2026 (A) 1,375,000 1,305,136

Stevens Holding Company, Inc.6.125%, 10/01/2026 (A) 1,250,000 1,287,975

Tempo Acquisition LLC5.750%, 06/01/2025 (A) 75,000 78,281

TriMas Corp.4.875%, 10/15/2025 (A) 1,325,000 1,315,063

25,351,637Information technology – 5.6%Cardtronics, Inc.

5.500%, 05/01/2025 (A) 2,350,000 2,209,000CDK Global, Inc.

5.250%, 05/15/2029 (A) 100,000 102,000CommScope Technologies LLC

6.000%, 06/15/2025 (A) 525,000 510,416CommScope, Inc.

8.250%, 03/01/2027 (A) 450,000 469,125Dell International LLC

5.875%, 06/15/2021 (A) 1,207,000 1,207,3627.125%, 06/15/2024 (A)(C) 2,275,000 2,361,723


107


CORPORATE BONDS (continued)Information technology (continued)Fair Isaac Corp.

4.000%, 06/15/2028 (A) $ 100,000 $ 100,3755.250%, 05/15/2026 (A) 1,425,000 1,536,407

Gartner, Inc.5.125%, 04/01/2025 (A) 615,000 627,552

NCR Corp.5.000%, 07/15/2022 1,510,000 1,511,4505.750%, 09/01/2027 (A) 50,000 49,6256.375%, 12/15/2023 750,000 766,7938.125%, 04/15/2025 (A) 150,000 161,438

NortonLifeLock, Inc.5.000%, 04/15/2025 (A) 125,000 127,500

Qorvo, Inc.4.375%, 10/15/2029 (A) 200,000 204,750

SS&C Technologies, Inc.5.500%, 09/30/2027 (A) 700,000 735,217

12,680,733Materials – 5.1%Ardagh Packaging Finance PLC

4.125%, 08/15/2026 (A) 600,000 602,0704.250%, 09/15/2022 (A) 200,000 202,1245.250%, 04/30/2025 (A) 125,000 130,469

Ball Corp.4.875%, 03/15/2026 250,000 275,1565.000%, 03/15/2022 175,000 182,9985.250%, 07/01/2025 75,000 84,094

Berry Global, Inc.4.875%, 07/15/2026 (A) 350,000 365,8625.125%, 07/15/2023 250,000 252,5005.625%, 07/15/2027 (A) 100,000 105,0006.000%, 10/15/2022 320,000 322,400

Clearwater Paper Corp.5.375%, 02/01/2025 (A)(C) 300,000 294,000

Crown Americas LLC4.250%, 09/30/2026 775,000 796,3134.750%, 02/01/2026 800,000 831,304

Flex Acquisition Company, Inc.6.875%, 01/15/2025 (A) 1,350,000 1,361,8407.875%, 07/15/2026 (A) 350,000 350,000

Kaiser Aluminum Corp.4.625%, 03/01/2028 (A) 275,000 259,8756.500%, 05/01/2025 (A) 175,000 179,594

Novelis Corp.5.875%, 09/30/2026 (A) 250,000 256,048

OI European Group BV4.000%, 03/15/2023 (A) 350,000 345,625

Owens-Brockway Glass Container, Inc.5.000%, 01/15/2022 (A) 173,000 174,2985.875%, 08/15/2023 (A) 600,000 622,500

QVC, Inc.4.750%, 02/15/2027 600,000 571,500

Reynolds Group Issuer, Inc.5.125%, 07/15/2023 (A) 450,000 455,625

Sealed Air Corp.5.125%, 12/01/2024 (A) 1,165,000 1,260,775

Silgan Holdings, Inc.4.125%, 02/01/2028 (A) 650,000 653,0684.750%, 03/15/2025 125,000 127,813

Valvoline, Inc.4.250%, 02/15/2030 (A) 325,000 324,1884.375%, 08/15/2025 (A) 125,000 126,875

11,513,914Real estate – 3.9%CoreCivic, Inc.

4.625%, 05/01/2023 300,000 291,000


CORPORATE BONDS (continued)Real estate (continued)CoreCivic, Inc. (continued)

5.000%, 10/15/2022 $ 800,000 $ 784,000GLP Capital LP

5.375%, 11/01/2023 625,000 626,519Iron Mountain, Inc.

4.375%, 06/01/2021 (A) 975,000 974,2496.000%, 08/15/2023 250,000 252,500

MPT Operating Partnership LP4.625%, 08/01/2029 275,000 272,2505.000%, 10/15/2027 725,000 749,4695.250%, 08/01/2026 800,000 820,0005.500%, 05/01/2024 715,000 723,9386.375%, 03/01/2024 60,000 61,633

SBA Communications Corp.3.875%, 02/15/2027 (A) 300,000 304,6204.000%, 10/01/2022 525,000 532,329

The GEO Group, Inc.5.125%, 04/01/2023 210,000 184,2755.875%, 01/15/2022 to 10/15/2024 1,665,000 1,506,8856.000%, 04/15/2026 975,000 760,500

8,844,167Utilities – 5.4%NextEra Energy Operating Partners LP

4.250%, 07/15/2024 to 09/15/2024 (A) 825,000 851,8134.500%, 09/15/2027 (A) 725,000 768,500

NSG Holdings LLC7.750%, 12/15/2025 (A) 2,371,547 2,395,262

Pattern Energy Group, Inc.5.875%, 02/01/2024 (A) 3,800,000 3,847,500

TerraForm Power Operating LLC4.250%, 01/31/2023 (A) 2,250,000 2,289,3754.750%, 01/15/2030 (A) 400,000 415,0005.000%, 01/31/2028 (A) 1,525,000 1,624,125

12,191,575TOTAL CORPORATE BONDS (Cost$217,187,546) $ 208,598,710

CONVERTIBLE BONDS – 0.3%Communication services – 0.2%DISH Network Corp.

3.375%, 08/15/2026 575,000 506,661Energy – 0.1%Denbury Resources, Inc.

6.375%, 12/31/2024 (A) 531,000 46,170Whiting Petroleum Corp.

1.250%, 04/01/2020 (B) 1,345,000 171,488217,658

TOTAL CONVERTIBLE BONDS (Cost$2,293,072) $ 724,319

TERM LOANS (D) – 3.1%Communication services – 1.3%Ancestry.com Operations, Inc., 2019

Extended Term Loan B (1 monthLIBOR + 4.250%) 4.424%,08/27/2026 2,690,159 2,488,397

Montreign Operating Company, BridgeTerm Loan (1 month LIBOR +2.250%) 2.424%, 03/22/2021 420,089 371,778

2,860,175Consumer discretionary – 0.1%CCM Merger, Inc., New Term Loan B (1

month LIBOR + 2.250%) 3.000%,08/08/2021 281,555 260,790


108


TERM LOANS (D) (continued)Consumer staples – 0.0%Atkins Nutritionals Holdings, Inc., 2017

Term Loan B (1 month LIBOR +3.750%) 4.750%, 07/07/2024 $ 145,423 $ 142,878

Energy – 0.2%EPIC Crude Services LP, Term Loan B

(3 month LIBOR + 5.000%) 5.370%,03/02/2026 600,000 448,500

Financials – 1.4%Emerald TopCo, Inc., Term Loan (1 and

3 month LIBOR + 3.500%) 4.259%,07/24/2026 671,625 643,753

HUB International, Ltd., 2019Incremental Term Loan B (3 monthLIBOR + 4.000%) 5.000%,04/25/2025 448,875 438,789

Nexus Buyer LLC, Term Loan B (1month LIBOR + 3.750%) 3.934%,11/09/2026 473,813 464,336

USI, Inc., 2019 Incremental Term LoanB (1 month LIBOR + 4.000%)4.174%, 12/02/2026 149,625 144,949

VFH Parent LLC, 2019 Term Loan B (1month LIBOR + 3.000%) 3.222%,03/01/2026 247,537 242,896

Victory Capital Holdings, Inc., 2020Term Loan B (3 month LIBOR +2.500%) 3.937%, 07/01/2026 1,287,909 1,243,901

3,178,624Materials – 0.1%Clearwater Paper Corp., Term Loan B (3

month LIBOR + 3.250%) 4.250%,07/26/2026 149,625 148,129


RIGHTS – 0.1%Texas Competitive Electric Holdings

Company LLC (E)(F) 215,025 215,025TOTAL RIGHTS (Cost $1,079,996) $ 215,025

ESCROW CERTIFICATES – 0.0%Texas Competitive Electric Holdings

Company LLC11.500%, 10/01/2020 (E)(G) $ 13,200,000 19,800

TOTAL ESCROW CERTIFICATES (Cost $6,477) $ 19,800


0.3653% (H)(I) 694,972 6,957,853State Street Institutional

U.S. Government Money MarketFund, Premier Class, 0.1303% (H) 6,068,552 6,068,552

TOTAL SHORT-TERM INVESTMENTS (Cost $13,017,685) $ 13,026,405Total Investments (U.S. High Yield Bond Fund)


Security Abbreviations and LegendLIBOR London Interbank Offered RatePIK Pay-in-Kind Security - Represents a payment-in-kind which may pay

interest in additional par and/or cash. Rates shown are the currentrate and most recent payment rate.

U.S. High Yield Bond Fund (continued)(A) These securities are exempt from registration under Rule 144A of

the Securities Act of 1933. Such securities may be resold, normallyto qualified institutional buyers, in transactions exempt fromregistration. Rule 144A securities amounted to $140,236,483 or62.0% of the fund’s net assets as of 5-31-20.

(B) Non-income producing - Issuer is in default.(C) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $6,809,723.(D) Term loans are variable rate obligations. The coupon rate shown

represents the rate at period end.(E) Non-income producing security.(F) Strike price and/or expiration date not available.(G) Security is valued using significant unobservable inputs and is

classified as Level 3 in the fair value hierarchy.(H) The rate shown is the annualized seven-day yield as of 5-31-20.(I) Investment is an affiliate of the fund, the advisor and/or subadvisor.


U.S. Sector Rotation FundShares orPrincipalAmount Value

COMMON STOCKS – 97.3%Communication services – 10.5%Diversified telecommunication services – 1.5%AT&T, Inc. 265,037 $ 8,179,042CenturyLink, Inc. (A) 35,596 349,909Verizon Communications, Inc. 150,052 8,609,984

17,138,935Entertainment – 2.0%Activision Blizzard, Inc. 34,685 2,496,626Electronic Arts, Inc. (B) 13,182 1,619,804Live Nation Entertainment, Inc. (B) 6,362 312,756Netflix, Inc. (B) 19,786 8,304,778Take-Two Interactive Software, Inc. (B) 5,110 695,829The Walt Disney Company 81,375 9,545,288

22,975,081Interactive media and services – 5.6%Alphabet, Inc., Class A (B) 13,528 19,392,659Alphabet, Inc., Class C (B) 13,494 19,281,846Facebook, Inc., Class A (B) 108,647 24,455,353Twitter, Inc. (B) 35,051 1,085,529

64,215,387Media – 1.3%Charter Communications, Inc.,

Class A (B) 7,079 3,850,976Comcast Corp., Class A 204,964 8,116,574Discovery, Inc., Series A (A)(B) 7,134 155,165Discovery, Inc., Series C (B) 15,149 296,769DISH Network Corp., Class A (B) 11,558 365,811Fox Corp., Class A 16,006 466,895Fox Corp., Class B 7,331 210,986Media General, Inc. (B)(C) 7,175 682News Corp., Class A 17,552 215,012News Corp., Class B 5,486 67,258Omnicom Group, Inc. 9,830 538,586The Interpublic Group of

Companies, Inc. 17,504 299,493ViacomCBS, Inc., Class B 24,399 506,035

15,090,242Wireless telecommunication services – 0.1%T-Mobile US, Inc. (B) 13,812 1,381,752

120,801,397Consumer discretionary – 9.9%Auto components – 0.2%Aptiv PLC 17,291 1,302,877


109

U.S. Sector Rotation Fund (continued)Shares orPrincipalAmount Value

COMMON STOCKS (continued)Auto components (continued)BorgWarner, Inc. 13,986 $ 449,650

1,752,527Automobiles – 0.3%Ford Motor Company 263,745 1,505,984General Motors Company 85,161 2,203,967Harley-Davidson, Inc. (A) 10,450 223,003

3,932,954Distributors – 0.1%Genuine Parts Company 10,854 905,332LKQ Corp. (B) 22,895 628,697

1,534,029Diversified consumer services – 0.0%H&R Block, Inc. 11,418 194,106Hotels, restaurants and leisure – 2.1%Carnival Corp. (A) 27,242 428,789Chipotle Mexican Grill, Inc. (B) 1,496 1,501,849Darden Restaurants, Inc. 7,629 586,365Domino’s Pizza, Inc. 2,262 872,770Hilton Worldwide Holdings, Inc. 16,504 1,308,932Las Vegas Sands Corp. 19,766 947,582Marriott International, Inc., Class A 15,872 1,404,672McDonald’s Corp. 44,049 8,207,210MGM Resorts International 30,121 517,479Norwegian Cruise Line

Holdings, Ltd. (A)(B) 14,571 228,182Royal Caribbean Cruises, Ltd. (A) 10,054 521,501Starbucks Corp. 69,078 5,387,393Wynn Resorts, Ltd. 5,651 470,615Yum! Brands, Inc. 17,691 1,587,413

23,970,752Household durables – 0.4%D.R. Horton, Inc. 17,251 953,980Garmin, Ltd. 7,433 670,234Hamilton Beach Brands Holding

Company, Class B 294 2,808Leggett & Platt, Inc. 6,771 207,125Lennar Corp., A Shares 14,398 870,503Mohawk Industries, Inc. (B) 3,058 285,006Newell Brands, Inc. 19,603 257,779NVR, Inc. (B) 179 576,668PulteGroup, Inc. 13,105 445,177Whirlpool Corp. (A) 3,251 396,037

4,665,317Internet and direct marketing retail – 2.6%Amazon.com, Inc. (B) 11,161 27,259,292Booking Holdings, Inc. (B) 1,122 1,839,429eBay, Inc. 20,494 933,297Expedia Group, Inc. 3,745 297,653

30,329,671Leisure products – 0.0%Hasbro, Inc. (A) 6,547 481,270Multiline retail – 0.6%Dollar General Corp. 12,225 2,341,210Dollar Tree, Inc. (B) 11,363 1,112,097Kohl’s Corp. 7,517 144,477Nordstrom, Inc. (A) 5,143 82,957Target Corp. 24,331 2,976,411

6,657,152Specialty retail – 2.9%Advance Auto Parts, Inc. 3,715 517,574AutoZone, Inc. (B) 1,278 1,466,965Best Buy Company, Inc. 12,214 953,791


COMMON STOCKS (continued)Specialty retail (continued)CarMax, Inc. (B) 8,819 $ 776,513L Brands, Inc. 12,455 201,646Lowe’s Companies, Inc. 41,110 5,358,689O’Reilly Automotive, Inc. (B) 4,058 1,693,160Ross Stores, Inc. 19,402 1,881,218The Gap, Inc. (A) 11,412 101,567The Home Depot, Inc. 58,507 14,537,819The TJX Companies, Inc. 65,042 3,431,616Tiffany & Company 5,790 741,873Tractor Supply Company 6,350 774,827Ulta Beauty, Inc. (B) 3,066 748,135

33,185,393Textiles, apparel and luxury goods – 0.7%Hanesbrands, Inc. (A) 18,607 183,465NIKE, Inc., Class B 64,102 6,319,175PVH Corp. 3,814 173,423Ralph Lauren Corp. 2,558 193,155Tapestry, Inc. 14,195 193,052Under Armour, Inc., Class A (A)(B) 9,685 84,744Under Armour, Inc., Class C (B) 10,007 78,655VF Corp. 16,848 945,173

8,170,842114,874,013

Consumer staples – 5.6%Beverages – 1.4%Brown-Forman Corp., Class B 6,857 452,082Constellation Brands, Inc., Class A 6,304 1,088,701Molson Coors Beverage Company,

Class B 7,070 268,377Monster Beverage Corp. (B) 14,369 1,033,275PepsiCo, Inc. 52,484 6,904,270The Coca-Cola Company 145,134 6,774,855

16,521,560Food and staples retailing – 1.7%Costco Wholesale Corp. 21,426 6,609,278Sysco Corp. 24,745 1,364,934The Kroger Company 38,895 1,268,755Walgreens Boots Alliance, Inc. 36,361 1,561,341Walmart, Inc. 68,800 8,535,328

19,339,636Food products – 0.9%Archer-Daniels-Midland Company 20,952 823,623Campbell Soup Company 6,358 324,131Conagra Brands, Inc. 18,316 637,214General Mills, Inc. 22,748 1,434,034Hormel Foods Corp. 10,466 511,055Kellogg Company 9,371 612,020Lamb Weston Holdings, Inc. 5,497 330,150McCormick & Company, Inc. 4,651 814,669Mondelez International, Inc., Class A 54,192 2,824,487The Hershey Company 5,582 757,366The J.M. Smucker Company 4,293 489,101The Kraft Heinz Company 23,441 714,247Tyson Foods, Inc., Class A 11,110 682,598

10,954,695Household products – 0.9%Church & Dwight Company, Inc. 5,651 424,221Colgate-Palmolive Company 19,734 1,427,360Kimberly-Clark Corp. 7,893 1,116,386The Clorox Company 2,890 596,063The Procter & Gamble Company 57,424 6,656,590

10,220,620


110


COMMON STOCKS (continued)Personal products – 0.1%Coty, Inc., Class A 6,805 $ 24,702The Estee Lauder Companies, Inc.,

Class A 5,125 1,012,0341,036,736

Tobacco – 0.6%Altria Group, Inc. 70,312 2,745,684Philip Morris International, Inc. 58,560 4,295,962

7,041,64665,114,893

Energy – 4.2%Energy equipment and services – 0.3%Baker Hughes Company 42,998 709,897Halliburton Company 58,078 682,417National Oilwell Varco, Inc. 25,527 318,322Schlumberger, Ltd. 91,596 1,691,778TechnipFMC PLC 27,807 205,772

3,608,186Oil, gas and consumable fuels – 3.9%Apache Corp. 24,879 268,444Cabot Oil & Gas Corp. 26,989 535,462Chevron Corp. 125,107 11,472,312Concho Resources, Inc. 13,301 725,171ConocoPhillips 72,599 3,062,226Devon Energy Corp. 25,604 276,779Diamondback Energy, Inc. 10,662 453,988EOG Resources, Inc. 38,492 1,961,937Exxon Mobil Corp. 279,945 12,729,099Hess Corp. 17,136 813,446HollyFrontier Corp. 9,823 308,933Kinder Morgan, Inc. 128,877 2,036,257Marathon Oil Corp. 52,925 282,620Marathon Petroleum Corp. 42,962 1,509,685Noble Energy, Inc. 31,645 276,261Occidental Petroleum Corp. (A) 59,104 765,397ONEOK, Inc. 27,331 1,002,774Phillips 66 29,400 2,300,844Pioneer Natural Resources Company 10,960 1,003,936The Williams Companies, Inc. 80,194 1,638,363Valero Energy Corp. 27,170 1,810,609

45,234,54348,842,729

Financials – 12.1%Banks – 5.0%Bank of America Corp. 483,488 11,661,731Citigroup, Inc. 130,385 6,246,745Citizens Financial Group, Inc. 25,962 625,684Comerica, Inc. 8,609 312,937Fifth Third Bancorp 42,384 821,826First Republic Bank 10,065 1,088,731Huntington Bancshares, Inc. 61,680 548,335JPMorgan Chase & Co. 187,318 18,227,915KeyCorp 58,823 697,053M&T Bank Corp. 7,881 832,706People’s United Financial, Inc. 26,524 303,700Regions Financial Corp. 57,609 651,558SVB Financial Group (B) 3,080 661,430The PNC Financial Services Group, Inc. 26,169 2,984,313Truist Financial Corp. 80,093 2,945,821U.S. Bancorp 84,883 3,018,439Wells Fargo & Company 229,855 6,084,262Zions Bancorp NA 10,180 334,973

58,048,159


COMMON STOCKS (continued)Capital markets – 2.6%Ameriprise Financial, Inc. 5,562 $ 779,069BlackRock, Inc. 6,692 3,537,659Cboe Global Markets, Inc. 4,867 518,141CME Group, Inc. 15,732 2,872,663E*TRADE Financial Corp. 9,917 451,620Franklin Resources, Inc. 12,244 231,044Intercontinental Exchange, Inc. 24,445 2,377,276Invesco, Ltd. 16,338 130,214MarketAxess Holdings, Inc. 1,665 846,802Moody’s Corp. 7,128 1,906,098Morgan Stanley 51,126 2,259,769MSCI, Inc. 3,718 1,222,664Nasdaq, Inc. 5,037 596,683Northern Trust Corp. 9,302 734,951Raymond James Financial, Inc. 5,420 375,498S&P Global, Inc. 10,729 3,487,140State Street Corp. 15,963 973,104T. Rowe Price Group, Inc. 10,258 1,240,192The Bank of New York Mellon Corp. 36,840 1,369,343The Charles Schwab Corp. 50,189 1,802,287The Goldman Sachs Group, Inc. 13,990 2,748,895

30,461,112Consumer finance – 0.5%American Express Company 29,456 2,800,382Capital One Financial Corp. 20,445 1,391,078Discover Financial Services 13,761 653,785Synchrony Financial 24,777 504,707

5,349,952Diversified financial services – 1.4%Berkshire Hathaway, Inc., Class B (B) 85,869 15,935,569NewStar Financial, Inc. (B)(C) 2,317 560

15,936,129Insurance – 2.6%Aflac, Inc. 45,762 1,668,940American International Group, Inc. 54,237 1,630,364Aon PLC, Class A 14,597 2,874,879Arthur J. Gallagher & Company 11,629 1,096,382Assurant, Inc. 3,780 387,752Chubb, Ltd. 28,255 3,445,415Cincinnati Financial Corp. 9,472 558,374Everest Re Group, Ltd. 2,542 504,358Globe Life, Inc. 6,211 478,371Lincoln National Corp. 12,365 469,004Loews Corp. 15,947 530,078Marsh & McLennan Companies, Inc. 31,463 3,332,561MetLife, Inc. 48,733 1,754,875Principal Financial Group, Inc. 16,100 621,782Prudential Financial, Inc. 25,062 1,527,780The Allstate Corp. 20,197 1,975,469The Hartford Financial Services

Group, Inc. 22,469 860,338The Progressive Corp. 36,448 2,831,281The Travelers Companies, Inc. 16,092 1,721,522Unum Group 12,859 194,814W.R. Berkley Corp. 9,046 524,216Willis Towers Watson PLC 8,016 1,626,446

30,615,001140,410,353

Health care – 14.0%Biotechnology – 2.4%AbbVie, Inc. 79,659 7,382,000Alexion Pharmaceuticals, Inc. (B) 9,998 1,198,760Amgen, Inc. 26,846 6,166,526


111


COMMON STOCKS (continued)Biotechnology (continued)Biogen, Inc. (B) 8,153 $ 2,503,705Gilead Sciences, Inc. 57,160 4,448,763Incyte Corp. (B) 8,077 823,127Regeneron Pharmaceuticals, Inc. (B) 3,609 2,211,631Vertex Pharmaceuticals, Inc. (B) 11,618 3,345,519

28,080,031Health care equipment and supplies – 3.9%Abbott Laboratories 79,429 7,539,401ABIOMED, Inc. (B) 2,029 454,293Align Technology, Inc. (B) 3,223 791,633Baxter International, Inc. 22,945 2,065,279Becton, Dickinson and Company 13,252 3,272,316Boston Scientific Corp. (B) 62,640 2,379,694Danaher Corp. 28,279 4,711,564Dentsply Sirona, Inc. 9,995 464,967DexCom, Inc. (B) 4,098 1,550,314Edwards Lifesciences Corp. (B) 9,373 2,106,301Hologic, Inc. (B) 12,050 638,650IDEXX Laboratories, Inc. (B) 3,855 1,190,732Intuitive Surgical, Inc. (B) 5,194 3,012,676Medtronic PLC 60,238 5,938,262ResMed, Inc. 6,462 1,039,219STERIS PLC 3,810 632,041Stryker Corp. 14,470 2,832,213Teleflex, Inc. 2,081 755,112The Cooper Companies, Inc. 2,228 706,231Varian Medical Systems, Inc. (B) 4,085 495,878West Pharmaceutical Services, Inc. 3,325 718,333Zimmer Biomet Holdings, Inc. 9,244 1,167,887

44,462,996Health care providers and services – 2.9%AmerisourceBergen Corp. 6,756 644,117Anthem, Inc. 11,396 3,351,678Cardinal Health, Inc. 13,145 718,900Centene Corp. (B) 26,237 1,738,201Cigna Corp. 16,782 3,311,424CVS Health Corp. 58,467 3,833,681DaVita, Inc. (B) 4,030 326,269HCA Healthcare, Inc. 11,890 1,271,041Henry Schein, Inc. (B) 6,594 400,388Humana, Inc. 5,951 2,443,778Laboratory Corp. of America

Holdings (B) 4,364 765,096McKesson Corp. 7,258 1,151,627Quest Diagnostics, Inc. 6,053 715,949UnitedHealth Group, Inc. 42,578 12,979,903Universal Health Services, Inc., Class B 3,610 380,675

34,032,727Health care technology – 0.1%Cerner Corp. 14,116 1,029,056Life sciences tools and services – 1.1%Agilent Technologies, Inc. 13,852 1,220,915Illumina, Inc. (B) 6,580 2,388,869IQVIA Holdings, Inc. (B) 8,077 1,207,673Mettler-Toledo International, Inc. (B) 1,090 866,550PerkinElmer, Inc. 4,973 499,637Thermo Fisher Scientific, Inc. 17,948 6,267,262Waters Corp. (B) 2,884 576,367

13,027,273Pharmaceuticals – 3.6%Bristol-Myers Squibb Company 84,405 5,040,667Eli Lilly & Company 30,422 4,653,045Johnson & Johnson 94,763 14,095,996


COMMON STOCKS (continued)Pharmaceuticals (continued)Merck & Company, Inc. 91,671 $ 7,399,683Mylan NV (B) 18,583 317,212Perrigo Company PLC 4,900 268,373Pfizer, Inc. 199,262 7,609,816Zoetis, Inc. 17,149 2,390,399

41,775,191162,407,274

Industrials – 8.3%Aerospace and defense – 1.6%General Dynamics Corp. 9,740 1,430,124Howmet Aerospace, Inc. 16,099 210,575Huntington Ingalls Industries, Inc. 1,700 339,813L3Harris Technologies, Inc. 9,188 1,832,547Lockheed Martin Corp. 10,317 4,007,535Northrop Grumman Corp. 6,514 2,183,493Raytheon Technologies Corp. 61,010 3,936,365Textron, Inc. 9,488 293,843The Boeing Company 22,222 3,241,079TransDigm Group, Inc. 2,070 879,377

18,354,751Air freight and logistics – 0.6%C.H. Robinson Worldwide, Inc. 7,551 612,613Expeditors International of

Washington, Inc. 9,508 726,126FedEx Corp. 13,402 1,749,765United Parcel Service, Inc., Class B 39,125 3,901,154

6,989,658Airlines – 0.2%Alaska Air Group, Inc. (A) 6,877 235,125American Airlines Group, Inc. (A) 21,767 228,554Delta Air Lines, Inc. 32,137 810,174Southwest Airlines Company 29,412 944,125United Airlines Holdings, Inc. (A)(B) 13,917 390,233

2,608,211Building products – 0.3%Allegion PLC 2,930 292,121AO Smith Corp. 4,322 205,295Carrier Global Corp. (B) 25,588 523,786Fortune Brands Home & Security, Inc. 4,389 267,553Johnson Controls International PLC 24,329 764,174Masco Corp. 8,959 417,937Trane Technologies PLC 7,556 681,627

3,152,493Commercial services and supplies – 0.4%Cintas Corp. 3,651 905,302Copart, Inc. (B) 8,908 796,286Republic Services, Inc. 9,172 783,839Rollins, Inc. 6,131 256,276Waste Management, Inc. 16,996 1,814,323

4,556,026Construction and engineering – 0.1%Jacobs Engineering Group, Inc. 8,487 713,078Quanta Services, Inc. 8,912 329,120

1,042,198Electrical equipment – 0.5%AMETEK, Inc. 11,232 1,030,087Eaton Corp. PLC 20,313 1,724,574Emerson Electric Company 29,931 1,826,390Rockwell Automation, Inc. 5,677 1,227,140

5,808,191


112


COMMON STOCKS (continued)Industrial conglomerates – 1.5%3M Company 33,549 $ 5,248,406General Electric Company 509,512 3,347,494Honeywell International, Inc. 41,686 6,079,903Roper Technologies, Inc. 6,071 2,390,760

17,066,563Machinery – 1.4%Caterpillar, Inc. 23,722 2,849,724Cummins, Inc. 6,576 1,115,290Deere & Company 13,516 2,056,054Dover Corp. 6,235 606,354Flowserve Corp. 5,617 146,604Fortive Corp. 12,685 773,531IDEX Corp. 3,265 520,343Illinois Tool Works, Inc. 12,554 2,165,063Ingersoll Rand, Inc. (B) 14,853 418,855Otis Worldwide Corp. 17,413 916,794PACCAR, Inc. 14,847 1,096,599Parker-Hannifin Corp. 5,514 992,355Pentair PLC 7,215 282,395Snap-on, Inc. 2,354 305,290Stanley Black & Decker, Inc. 6,525 818,561Wabtec Corp. 7,817 477,384Xylem, Inc. 7,730 512,808

16,054,004Professional services – 0.3%Equifax, Inc. 5,272 809,568IHS Markit, Ltd. 17,462 1,212,911Nielsen Holdings PLC 15,492 215,184Robert Half International, Inc. 5,119 259,738Verisk Analytics, Inc. 7,136 1,232,244

3,729,645Road and rail – 1.2%CSX Corp. 43,418 3,107,860J.B. Hunt Transport Services, Inc. 4,760 569,629Kansas City Southern 5,534 832,978Norfolk Southern Corp. 14,558 2,595,546Old Dominion Freight Line, Inc. 5,348 914,989Union Pacific Corp. 38,759 6,583,604

14,604,606Trading companies and distributors – 0.2%Fastenal Company 23,499 969,569United Rentals, Inc. (B) 3,079 427,642W.W. Grainger, Inc. 1,788 553,601

1,950,81295,917,158

Information technology – 24.4%Communications equipment – 1.0%Arista Networks, Inc. (B) 2,358 550,499Cisco Systems, Inc. 184,418 8,818,869F5 Networks, Inc. (B) 2,643 383,024Juniper Networks, Inc. 14,549 352,959Motorola Solutions, Inc. 7,448 1,007,938

11,113,289Electronic equipment, instruments and components – 0.5%Amphenol Corp., Class A 12,889 1,244,562CDW Corp. 6,246 692,744Corning, Inc. 33,434 761,961FLIR Systems, Inc. 5,832 269,438IPG Photonics Corp. (B) 1,546 240,248Keysight Technologies, Inc. (B) 8,154 881,692TE Connectivity, Ltd. 14,540 1,181,375


COMMON STOCKS (continued)Electronic equipment, instruments andcomponents (continued)Zebra Technologies Corp., Class A (B) 2,344 $ 612,534

5,884,554IT services – 5.5%Accenture PLC, Class A 27,660 5,576,809Akamai Technologies, Inc. (B) 7,038 744,620Alliance Data Systems Corp. 1,785 82,699Automatic Data Processing, Inc. 18,846 2,760,751Broadridge Financial Solutions, Inc. 4,993 604,652Cognizant Technology Solutions Corp.,

Class A 23,849 1,263,997DXC Technology Company 11,150 158,442Fidelity National Information

Services, Inc. 26,769 3,716,340Fiserv, Inc. (B) 24,875 2,655,904FleetCor Technologies, Inc. (B) 3,780 921,526Gartner, Inc. (B) 3,896 474,143Global Payments, Inc. 13,090 2,349,524IBM Corp. 38,574 4,817,893Jack Henry & Associates, Inc. 3,351 606,062Leidos Holdings, Inc. 5,796 610,261Mastercard, Inc., Class A 38,665 11,633,912Paychex, Inc. 13,875 1,002,885PayPal Holdings, Inc. (B) 51,142 7,927,521The Western Union Company 18,259 365,545VeriSign, Inc. (B) 4,500 985,545Visa, Inc., Class A 74,559 14,556,899

63,815,930Semiconductors and semiconductor equipment – 4.6%Advanced Micro Devices, Inc. (B) 52,795 2,840,371Analog Devices, Inc. 16,624 1,877,681Applied Materials, Inc. 41,696 2,342,481Broadcom, Inc. 17,905 5,215,189Intel Corp. 196,348 12,356,180KLA Corp. 7,122 1,253,187Lam Research Corp. 6,548 1,791,991Maxim Integrated Products, Inc. 12,214 704,504Microchip Technology, Inc. (A) 10,787 1,035,768Micron Technology, Inc. (B) 49,969 2,394,015NVIDIA Corp. 27,624 9,807,072Qorvo, Inc. (B) 5,244 549,257QUALCOMM, Inc. 51,540 4,168,555Skyworks Solutions, Inc. 7,690 911,573Texas Instruments, Inc. 42,193 5,009,997Xilinx, Inc. 11,350 1,043,633

53,301,454Software – 7.5%Adobe, Inc. (B) 19,244 7,439,730ANSYS, Inc. (B) 3,402 962,766Autodesk, Inc. (B) 8,747 1,840,194Cadence Design Systems, Inc. (B) 11,155 1,018,340Citrix Systems, Inc. 4,572 677,205Fortinet, Inc. (B) 5,643 785,506Intuit, Inc. 10,348 3,004,231Microsoft Corp. 303,281 55,576,243NortonLifeLock, Inc. 22,793 519,225Oracle Corp. 86,127 4,631,049Paycom Software, Inc. (B) 1,950 579,599salesforce.com, Inc. (B) 35,262 6,163,445ServiceNow, Inc. (B) 7,498 2,908,699Synopsys, Inc. (B) 5,976 1,081,118

87,187,350Technology hardware, storage and peripherals – 5.3%Apple, Inc. 181,565 57,726,770


113


COMMON STOCKS (continued)Technology hardware, storage and peripherals (continued)Hewlett Packard Enterprise Company 56,251 $ 546,197HP, Inc. 64,421 975,334NetApp, Inc. 9,921 441,881Seagate Technology PLC 10,050 533,052Western Digital Corp. 12,929 573,660Xerox Holdings Corp. 8,081 128,326

60,925,220282,227,797

Materials – 3.3%Chemicals – 2.3%Air Products & Chemicals, Inc. 12,946 3,128,401Albemarle Corp. (A) 6,227 476,490Celanese Corp. 7,099 638,271CF Industries Holdings, Inc. 12,769 375,026Corteva, Inc. 43,955 1,200,411Dow, Inc. 43,549 1,680,991DuPont de Nemours, Inc. 43,509 2,207,212Eastman Chemical Company 7,986 543,687Ecolab, Inc. 14,728 3,130,878FMC Corp. 7,612 749,097International Flavors &

Fragrances, Inc. (A) 6,271 835,234Linde PLC 31,550 6,383,827LyondellBasell Industries NV, Class A 15,078 961,373PPG Industries, Inc. 13,888 1,411,993The Mosaic Company 20,534 248,256The Sherwin-Williams Company 4,825 2,865,326

26,836,473Construction materials – 0.2%Martin Marietta Materials, Inc. 3,671 705,162Vulcan Materials Company 7,774 842,080

1,547,242Containers and packaging – 0.4%Amcor PLC 95,157 971,553Avery Dennison Corp. 4,904 542,726Ball Corp. 19,213 1,369,118International Paper Company 23,030 784,172Packaging Corp. of America 5,559 563,738Sealed Air Corp. 9,074 291,275Westrock Company 15,147 425,025

4,947,607Metals and mining – 0.4%Freeport-McMoRan, Inc. 85,214 772,891Newmont Corp. 48,151 2,815,389Nucor Corp. 17,808 752,566

4,340,84637,672,168

Real estate – 2.7%Equity real estate investment trusts – 2.7%Alexandria Real Estate Equities, Inc. 5,366 824,862American Tower Corp. 19,386 5,004,884Apartment Investment & Management

Company, A Shares 6,515 240,208AvalonBay Communities, Inc. 6,113 953,689Boston Properties, Inc. 6,294 541,158Crown Castle International Corp. 18,196 3,132,623Digital Realty Trust, Inc. 11,504 1,651,514Duke Realty Corp. 16,087 554,680Equinix, Inc. 3,859 2,692,154Equity Residential 15,278 925,236Essex Property Trust, Inc. 2,892 702,091Extra Space Storage, Inc. 5,668 548,379


COMMON STOCKS (continued)Equity real estate investment trusts (continued)Federal Realty Investment Trust 3,074 $ 245,643Healthpeak Properties, Inc. 21,660 533,702Host Hotels & Resorts, Inc. 31,386 374,749Iron Mountain, Inc. 12,566 323,700Kimco Realty Corp. 18,479 205,302Mid-America Apartment

Communities, Inc. 4,992 580,869Prologis, Inc. 32,310 2,956,365Public Storage 6,575 1,333,016Realty Income Corp. 14,999 829,595Regency Centers Corp. 7,334 313,822SBA Communications Corp. 4,928 1,548,033Simon Property Group, Inc. 13,430 774,911SL Green Realty Corp. 3,567 150,242UDR, Inc. 12,825 474,269Ventas, Inc. 16,314 570,174Vornado Realty Trust 6,933 251,044Welltower, Inc. 17,758 899,798Weyerhaeuser Company 32,612 658,436

30,795,148Real estate management and development – 0.0%CBRE Group, Inc., Class A (B) 14,651 644,351

31,439,499Utilities – 2.3%Electric utilities – 1.5%Alliant Energy Corp. 7,900 389,944American Electric Power Company, Inc. 16,236 1,384,119Duke Energy Corp. 23,964 2,052,037Edison International 11,787 684,943Entergy Corp. 6,544 666,310Evergy, Inc. 7,491 462,120Eversource Energy 10,642 890,735Exelon Corp. 31,954 1,224,158FirstEnergy Corp. 17,757 750,411NextEra Energy, Inc. 16,066 4,105,827NRG Energy, Inc. 8,269 298,097Pinnacle West Capital Corp. 3,695 287,841PPL Corp. 25,238 705,150The Southern Company 34,472 1,967,317Xcel Energy, Inc. 17,237 1,120,922

16,989,931Gas utilities – 0.0%Atmos Energy Corp. 3,923 403,206Independent power and renewable electricity producers –0.0%AES Corp. 21,819 272,519Multi-utilities – 0.7%Ameren Corp. 8,087 604,342CenterPoint Energy, Inc. 16,508 293,512CMS Energy Corp. 9,329 546,493Consolidated Edison, Inc. 10,927 820,181Dominion Energy, Inc. 27,055 2,299,946DTE Energy Company 6,314 679,197NiSource, Inc. 12,277 292,561Public Service Enterprise Group, Inc. 16,623 848,438Sempra Energy 9,266 1,170,388WEC Energy Group, Inc. 10,368 951,057

8,506,115Water utilities – 0.1%American Water Works Company, Inc. 5,942 754,634



114


PREFERRED SECURITIES – 0.0%Communication services – 0.0%Media – 0.0%GCI Liberty, Inc., 7.000% 361 $ 9,270TOTAL PREFERRED SECURITIES (Cost $2,897) $ 9,270

RIGHTS – 0.0%Pan American Silver Corp. (Expiration

Date: 2-22-29) (B)(D) 13,589 8,831TOTAL RIGHTS (Cost $4,020) $ 8,831

SHORT-TERM INVESTMENTS – 2.7%U.S. Government Agency – 1.9%Federal Home Loan Bank Discount Note

0.100%, 07/23/2020 * $ 15,000,000 14,997,1830.122%, 08/14/2020 * 5,000,000 4,998,458

Federal National Mortgage AssociationDiscount Note0.105%, 07/29/2020 * 2,700,000 2,699,435

22,695,076Short-term funds – 0.5%John Hancock Collateral Trust,

0.3653% (E)(F) 539,665 5,402,961Repurchase agreement – 0.3%Repurchase Agreement with State Street


TOTAL SHORT-TERM INVESTMENTS (Cost $31,529,868) $ 31,533,037Total Investments (U.S. Sector Rotation Fund)

(Cost $1,081,448,658) – 100.0% $ 1,158,184,824Other assets and liabilities, net – 0.0% 73,220TOTAL NET ASSETS – 100.0% $ 1,158,258,044

U.S. Sector Rotation Fund (continued)Security Abbreviations and Legend(A) All or a portion of this security is on loan as of 5-31-20. The value

of securities on loan amounted to $5,288,833.(B) Non-income producing security.(C) Security is valued using significant unobservable inputs and is

classified as Level 3 in the fair value hierarchy.(D) Strike price and/or expiration date not available.(E) The rate shown is the annualized seven-day yield as of 5-31-20.(F) Investment is an affiliate of the fund, the advisor and/or subadvisor.



DERIVATIVES

FUTURES



dateNotional

basis^Notional

value^


(depreciation)S&P 500 Index E-Mini Futures 208 Long Jun 2020 $29,708,274 $31,597,800 $1,889,526

$1,889,526



115

The following funds had the following country composition as a percentage of net assets on 5-31-20:

Capital Appreciation FundUnited States 85.3%Canada 4.4%China 3.6%United Kingdom 2.3%Netherlands 2.0%France 1.1%Australia 1.0%Other countries 0.3%

TOTAL 100.0%Health Sciences FundUnited States 85.8%Switzerland 3.2%Japan 2.2%United Kingdom 2.1%Netherlands 1.4%Germany 1.3%Denmark 1.3%Other countries 2.7%

TOTAL 100.0%High Yield FundUnited States 78.1%Cayman Islands 4.7%Canada 4.6%United Kingdom 3.7%France 2.1%Netherlands 1.0%Italy 1.0%Other countries 4.8%

TOTAL 100.0%

Mid Value FundUnited States 81.6%Canada 8.3%Ireland 3.4%Mexico 1.3%Switzerland 1.2%Other countries 4.2%

TOTAL 100.0%Science & Technology FundUnited States 78.7%China 7.7%Germany 3.7%South Korea 3.7%Australia 1.9%Russia 1.4%Other countries 2.9%

TOTAL 100.0%Strategic Equity Allocation FundUnited States 63.9%Japan 7.7%Canada 3.1%China 3.1%United Kingdom 3.0%Switzerland 2.7%Germany 2.3%South Korea 1.8%Australia 1.6%Netherlands 1.3%Other countries 9.5%

TOTAL 100.0%

The following funds had the following sector composition as a percentage of net assets on 5-31-20:

International Strategic Equity Allocation FundFinancials 20.2%Consumer discretionary 11.6%Information technology 11.4%Industrials 10.6%Health care 10.2%Consumer staples 8.7%Communication services 6.9%Materials 6.5%Utilities 3.7%Energy 3.7%Real estate 2.3%Short-term investments and other 4.2%

TOTAL 100.0%International Value FundFinancials 19.8%Industrials 15.7%Information technology 12.2%Health care 10.7%Consumer staples 9.7%Consumer discretionary 8.8%Materials 7.5%Communication services 6.2%Energy 3.8%Real estate 1.1%Utilities 0.9%Short-term investments and other 3.6%

TOTAL 100.0%


116

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than theregularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the funds’ ValuationPolicies and Procedures.

In order to value the securities, the funds use the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, aretypically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no salesduring the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds,including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Debt obligations typically are valued based onevaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such asinstitutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, aswell as broker supplied prices. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where theoption trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts are typicallyvalued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent tothe close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fairvalue adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges ormarkets and the close of the NYSE.Swaps are valued using evaluated prices obtained from an independent pricing vendor. Forward foreign currencycontracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by anindependent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by anindependent pricing vendor.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading onthe exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, andtrading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith bythe funds’ Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are usedcannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securitiesexisted. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or marketlevel may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If asignificant event occurs, these securities may be fair valued, as determined in good faith by the funds’ Pricing Committee, following procedures establishedby the Board of Trustees. The funds use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in orderto adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The funds use a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includessecurities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepaymentspeeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on anevaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available orreliable, including the funds’ own assumptions in determining the fair value of investments. Factors used in determining value may include market orissuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily anindication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out ofan assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the funds’ investments as of May 31, 2020, by major security category or type:

Totalvalue at5-31-20

Level 1quoted

price

Level 2significantobservable

inputs

Level 3significant

unobservableinputs

Asia Pacific Total Return Bond Fund

Investments in securities:

AssetsForeign government obligations $80,644,890 — $80,644,890 —Corporate bonds 121,651,794 — 121,651,794 —Short-term investments 3,397,086 $3,397,086 — —

Total investments in securities $205,693,770 $3,397,086 $202,296,684 —

Derivatives:

LiabilitiesFutures $(127,024) $(127,024) — —

John Hancock Funds IINotes to Portfolio of Investments (unaudited)

117


Level 1quoted

price


inputs

Level 3significant

unobservableinputs

Capital Appreciation Fund


AssetsCommon stocks

Communication services $264,413,447 $235,740,682 $28,672,765 —Consumer discretionary 375,773,284 356,322,720 19,450,564 —Consumer staples 72,541,304 72,541,304 — —Financials 49,503,739 49,503,739 — —Health care 175,570,717 175,570,717 — —Industrials 63,230,831 63,230,831 — —Information technology 788,038,509 751,140,357 36,898,152 —Real estate 12,775,284 12,775,284 — —

Short-term investments 62,435,182 62,435,182 — —Total investments in securities $1,864,282,297 $1,779,260,816 $85,021,481 —

Capital Appreciation Value Fund


AssetsCommon stocks

Communication services $46,835,863 $46,835,863 — —Consumer discretionary 101,814,921 101,814,921 — —Consumer staples 32,235,231 32,235,231 — —Financials 74,173,851 74,173,851 — —Health care 182,043,218 162,339,790 $19,703,428 —Industrials 119,749,293 119,749,293 — —Information technology 187,292,022 187,292,022 — —Materials 17,485,616 17,485,616 — —Utilities 101,314,533 101,314,533 — —

Preferred securitiesFinancials 19,078,280 19,078,280 — —Health care 13,522,911 13,522,911 — —Industrials 2,456,097 — 2,456,097 —Utilities 26,095,876 26,095,876 — —

Corporate bonds 151,548,706 — 151,548,706 —Term loans 107,288,756 — 107,288,756 —Short-term investments 156,011,959 156,011,959 — —

Total investments in securities $1,338,947,133 $1,057,950,146 $280,996,987 —

Derivatives:

LiabilitiesWritten options $(8,127,517) — $(8,127,517) —

Core Bond Fund


AssetsU.S. Government and Agency obligations $1,424,966,585 — $1,424,966,585 —Foreign government obligations 35,933,706 — 35,933,706 —Corporate bonds 829,613,936 — 829,613,936 —Municipal bonds 13,974,283 — 13,974,283 —Collateralized mortgage obligations 208,159,291 — 208,159,291 —Asset backed securities 216,177,294 — 216,177,294 —Short-term investments 161,313,462 $161,313,462 — —

Total investments in securities $2,890,138,557 $161,313,462 $2,728,825,095 —

118


Level 1quoted

price


inputs

Level 3significant

unobservableinputs

Health Sciences Fund


AssetsCommon stocks

Consumer discretionary $330,174 — — $330,174Financials 499,075 $499,075 — —Health care 365,433,079 336,112,663 $28,836,085 484,331Industrials 979,232 979,232 — —

Preferred securitiesConsumer discretionary 737,268 — — 737,268Health care 2,202,507 52,253 2,150,254 —Information technology 910,816 — — 910,816

Rights 433,145 433,145 — —Short-term investments 4,432,659 4,432,659 — —

Total investments in securities $375,957,955 $342,509,027 $30,986,339 $2,462,589

High Yield Fund


AssetsForeign government obligations $1,693,095 — $1,693,095 —Corporate bonds 167,746,851 — 167,746,851 —Convertible bonds 2,043,633 — 2,043,633 —Term loans 11,652,286 — 11,652,286 —Asset backed securities 7,903,408 — 7,903,408 —Common stocks 1,475,763 $1,302,977 — $172,786Preferred securities 1,632,036 1,632,036 — —Short-term investments 609,666 609,666 — —

Total investments in securities $194,756,738 $3,544,679 $191,039,273 $172,786

Derivatives:

AssetsFutures $11,415 $11,415 — —Forward foreign currency contracts 17,041 — $17,041 —Swap contracts 20,041 — 20,041 —

LiabilitiesFutures (21,678) (21,678) — —Forward foreign currency contracts (56,566) — (56,566) —

International Strategic Equity Allocation Fund


AssetsCommon stocks

Australia $65,437,018 — $65,437,018 —Austria 2,834,733 — 2,834,733 —Belgium 3,739,088 — 3,739,088 —Brazil 12,262,330 $12,262,330 — —Canada 125,898,484 125,898,484 — —Chile 2,902,601 2,664,559 238,042 —China 128,924,884 47,811,132 81,113,752 —Colombia 761,963 761,963 — —Czech Republic 503,400 — 503,400 —Denmark 29,362,743 — 29,362,743 —Finland 12,796,322 — 12,796,322 —France 44,633,216 — 44,633,216 —Germany 92,060,982 — 92,060,982 —Hong Kong 45,789,377 365,977 45,423,400 —Hungary 1,375,383 — 1,375,383 —

119


Level 1quoted

price


inputs

Level 3significant

unobservableinputs

International Strategic Equity Allocation Fund (continued)Indonesia $5,071,168 — $5,071,168 —Ireland 10,323,136 $409,448 9,913,688 —Isle of Man 315,843 — 315,843 —Israel 5,722,982 2,956,320 2,766,662 —Italy 15,035,324 — 15,035,324 —Japan 320,920,688 — 320,920,688 —Luxembourg 1,741,953 — 1,741,953 —Macau 901,629 — 901,629 —Malaysia 6,318,184 — 6,318,184 —Mexico 8,262,663 8,262,663 — —Netherlands 54,731,403 2,729,240 52,002,163 —New Zealand 1,506,566 — 1,506,566 —Norway 2,750,528 — 2,750,528 —Peru 1,358,089 1,358,089 — —Philippines 3,693,212 — 3,692,930 $282Poland 1,821,836 — 1,821,836 —Portugal 1,762,077 — 1,762,077 —Romania 153,418 — 153,418 —Russia 97,338 — 97,338 —Singapore 4,052,312 — 4,052,312 —South Africa 15,272,886 — 15,272,886 —South Korea 72,834,889 — 72,834,889 —Spain 27,784,992 — 27,784,992 —Sweden 30,700,954 — 30,700,954 —Switzerland 102,976,742 — 102,976,742 —Taiwan 49,826,212 — 49,826,212 —Thailand 8,024,962 — 8,024,962 —Turkey 940,706 — 940,706 —United Arab Emirates 2,013 — 2,013 —United Kingdom 98,991,467 876,035 98,115,432 —United States 5,484,199 5,320,095 164,104 —

Preferred securitiesBrazil 4,663,520 4,663,520 — —Chile 342,519 342,519 — —Colombia 353,338 353,338 — —Germany 6,312,313 — 6,312,313 —South Korea 4,202,090 — 4,202,090 —

Exchange-traded funds 57,805,025 57,805,025 — —Rights 45,502 45,502 — —Warrants 1,547 1,547 — —Short-term investments 119,362,167 69,677,291 49,684,876 —

Total investments in securities $1,621,750,916 $344,565,077 $1,277,185,557 $282

Derivatives:

AssetsFutures $9,012,413 $9,012,413 — —

International Value Fund


AssetsCommon stocks

Australia $1,057,443 — $1,057,443 —Bermuda 2,210,089 $2,210,089 — —Canada 7,382,037 7,382,037 — —China 868,312 — 868,312 —Czech Republic 626,856 — 626,856 —Denmark 3,228,267 — 3,228,267 —Finland 3,359,610 — 3,359,610 —

120


Level 1quoted

price


inputs

Level 3significant

unobservableinputs

International Value Fund (continued)France $28,154,525 — $28,154,525 —Germany 13,040,840 — 13,040,840 —Greece 1,628,423 — 1,628,423 —Hong Kong 3,154,729 — 3,154,729 —Hungary 1,704,106 — 1,704,106 —India 1,197,635 $1,197,635 — —Indonesia 1,906,191 — 1,906,191 —Ireland 2,722,424 — 2,722,424 —Italy 3,453,966 — 3,453,966 —Japan 46,576,947 — 46,576,947 —Macau 992,730 — 992,730 —Netherlands 9,762,183 1,210,956 8,551,227 —Norway 1,914,343 — 1,914,343 —Singapore 2,000,242 — 2,000,242 —South Korea 9,768,882 2,026,495 7,742,387 —Spain 2,504,555 — 2,504,555 —Sweden 2,642,716 — 2,642,716 —Switzerland 17,456,370 — 17,456,370 —Taiwan 717,816 — 717,816 —United Kingdom 29,813,467 4,786,741 25,026,726 —United States 1,677,196 1,677,196 — —

Short-term investments 9,513,326 9,513,326 — —Total investments in securities $211,036,226 $30,004,475 $181,031,751 —

Mid Cap Stock Fund


AssetsCommon stocks

Communication services $93,235,661 $93,235,661 — —Consumer discretionary 286,912,349 255,236,974 $30,554,073 $1,121,302Consumer staples 72,772,634 72,772,634 — —Financials 18,275,627 18,275,627 — —Health care 381,769,008 361,803,095 19,965,913 —Industrials 109,815,898 109,815,898 — —Information technology 545,832,529 545,832,529 — —

Preferred securities 39,719,158 — — 39,719,158Exchange-traded funds 76,836,090 76,836,090 — —Warrants 129,874 — 129,874 —Short-term investments 240,575,375 196,375,375 44,200,000 —

Total investments in securities $1,865,874,203 $1,730,183,883 $94,849,860 $40,840,460

Mid Value Fund


AssetsCommon stocks

Communication services $61,217,344 $61,217,344 — —Consumer discretionary 35,997,991 31,543,897 $4,454,094 —Consumer staples 108,585,621 99,566,864 9,018,757 —Energy 139,804,354 129,839,368 9,964,986 —Financials 196,278,831 183,273,788 13,005,043 —Health care 202,473,886 199,201,170 3,272,716 —Industrials 107,266,983 103,632,098 3,634,885 —Information technology 35,844,783 35,844,783 — —Materials 135,428,327 120,333,059 15,095,268 —Real estate 78,068,002 78,068,002 — —Utilities 54,164,797 54,164,797 — —

Preferred securities 3,206,108 3,206,108 — —

121


Level 1quoted

price


inputs

Level 3significant

unobservableinputs

Mid Value Fund (continued)Corporate bonds $1,116,450 — $1,116,450 —Short-term investments 110,905,416 $110,905,416 — —

Total investments in securities $1,270,358,893 $1,210,796,694 $59,562,199 —

Multi-Index Lifestyle Aggressive Portfolio


AssetsAffiliated investment companies $228,109,939 $228,109,939 — —Unaffiliated investment companies 113,557,431 113,557,431 — —Short-term investments 151,877 151,877 — —

Total investments in securities $341,819,247 $341,819,247 — —

Multi-Index Lifestyle Balanced Portfolio


AssetsAffiliated investment companies $343,521,612 $343,521,612 — —Unaffiliated investment companies 533,395,075 533,395,075 — —Short-term investments 84,532,995 84,532,995 — —


Multi-Index Lifestyle Conservative Portfolio




Multi-Index Lifestyle Growth Portfolio




Multi-Index Lifestyle Moderate Portfolio




Opportunistic Fixed Income Fund


AssetsU.S. Government and Agency obligations $9,723,180 — $9,723,180 —Foreign government obligations 18,020,516 — 18,020,516 —Corporate bonds 2,243,178 — 2,243,178 —Convertible bonds 7,266 — 7,266 —Municipal bonds 643,614 — 643,614 —

122


Level 1quoted

price


inputs

Level 3significant

unobservableinputs

Opportunistic Fixed Income Fund (continued)Term loans $3,372,300 — $3,372,300 —Collateralized mortgage obligations 3,424,104 — 3,424,104 —Asset backed securities 2,487,412 — 2,487,412 —Exchange-traded funds 3,709,856 $3,709,856 — —Short-term investments 3,485,489 3,485,489 — —

Total investments in securities $47,116,915 $7,195,345 $39,921,570 —

Derivatives:

AssetsFutures $44,957 $44,957 — —Forward foreign currency contracts 105,821 — $105,821 —Swap contracts 433,469 — 433,469 —

LiabilitiesFutures (15,780) (15,780) — —Forward foreign currency contracts (196,283) — (196,283) —Swap contracts (333,870) — (333,870) —

Real Estate Securities Fund


AssetsCommon stocks $303,867,399 $303,867,399 — —Short-term investments 6,855,574 6,855,574 — —


Science & Technology Fund


AssetsCommon stocks

Communication services $59,156,991 $52,325,216 $6,831,775 —Consumer discretionary 49,500,098 36,227,881 13,272,217 —Health care 4,067,626 4,067,626 — —Industrials 1,963,452 1,963,452 — —Information technology 162,253,664 151,644,571 10,609,093 —Real estate 160,455 160,455 — —

Preferred securities 1,586,325 — — $1,586,325Exchange-traded funds 1,271,019 1,271,019 — —Term loans 325,200 — 325,200 —Short-term investments 27,232,526 22,926,526 4,306,000 —

Total investments in securities $307,517,356 $270,586,746 $35,344,285 $1,586,325

Strategic Equity Allocation Fund


AssetsCommon stocks

Communication services $564,132,674 $409,226,387 $154,904,542 $1,745Consumer discretionary 726,092,766 511,749,710 214,342,577 479Consumer staples 443,926,715 245,783,566 198,143,149 —Energy 253,312,561 197,905,118 55,407,443 —Financials 935,549,556 609,461,126 326,087,076 1,354Health care 859,044,395 608,601,180 250,421,021 22,194Industrials 681,789,458 424,664,895 257,124,563 —Information technology 1,257,531,402 1,011,448,654 246,082,748 —Materials 318,024,573 184,273,954 133,750,619 —Real estate 219,960,456 154,956,894 65,003,562 —Utilities 193,208,286 121,920,971 71,255,806 31,509

123


Level 1quoted

price


inputs

Level 3significant

unobservableinputs

Strategic Equity Allocation Fund (continued)Preferred securities

Communication services $422,128 $422,128 — —Consumer discretionary 6,595,478 399,829 $6,195,649 —Consumer staples 2,752,554 129,958 2,622,596 —Energy 1,621,212 1,621,212 — —Financials 4,998,853 4,998,853 — —Health care 1,913,905 — 1,913,905 —Information technology 5,695,383 — 5,695,383 —Materials 1,418,250 801,550 616,700 —Utilities 336,189 336,189 — —

Exchange-traded funds 95,992,543 95,992,543 — —Rights 127,722 98,134 3,417 $26,171Warrants 2,885 2,885 — —Short-term investments 332,643,272 173,275,738 159,367,534 —

Total investments in securities $6,907,093,216 $4,758,071,474 $2,148,938,290 $83,452

Derivatives:

AssetsFutures $9,343,642 $9,343,642 — —

LiabilitiesFutures (51,196) (51,196) — —

U.S. High Yield Bond Fund


AssetsCorporate bonds $208,598,710 — $208,598,710 —Convertible bonds 724,319 — 724,319 —Term loans 7,039,096 — 7,039,096 —Rights 215,025 — 215,025 —Escrow certificates 19,800 — — $19,800Short-term investments 13,026,405 $13,026,405 — —

Total investments in securities $229,623,355 $13,026,405 $216,577,150 $19,800

U.S. Sector Rotation Fund


AssetsCommon stocks

Communication services $120,801,397 $120,800,715 — $682Consumer discretionary 114,874,013 114,871,205 $2,808 —Consumer staples 65,114,893 65,114,893 — —Energy 48,842,729 48,842,729 — —Financials 140,410,353 140,409,793 — 560Health care 162,407,274 162,407,274 — —Industrials 95,917,158 95,917,158 — —Information technology 282,227,797 282,227,797 — —Materials 37,672,168 37,672,168 — —Real estate 31,439,499 31,439,499 — —Utilities 26,926,405 26,926,405 — —

Preferred securities 9,270 9,270 — —Rights 8,831 8,831 — —Short-term investments 31,533,037 5,402,961 26,130,076 —

Total investments in securities $1,158,184,824 $1,132,050,698 $26,132,884 $1,242

Derivatives:

AssetsFutures $1,889,526 $1,889,526 — —

124

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. Transfers into or out ofLevel 3, if any, represent the beginning value of any security or instrument where a change in the level has occurred from the beginning to the end of theperiod and in all cases were transferred into or out of Level 2. Securities were transferred out of Level 3 since observable market data became available dueto the increased market activity of these securities.

Mid Cap Stock FundCommon

stocksPreferredsecurities Total

Balance as of 8-31-19 $7,241,730 $56,410,566 $63,652,296Realized gain (loss) (27,360) 1,289,303 1,261,943Change in unrealized appreciation (depreciation) (2,347,034) (13,384,706) (15,731,740)Purchases — — —Sales (79,341) (4,596,005) (4,675,346)Transfers into Level 3 — — —Transfers out of Level 3 (3,666,693) — (3,666,693)Balance as of 5-31-20 $1,121,302 $39,719,158 $40,840,460Change in unrealized at period end1 $160,092 $(13,384,706) $(13,224,614)

1 Change in unrealized appreciation (depreciation) attributable to Level 3 securities held at period end.

The valuation techniques and significant amounts of unobservable inputs used in the fair value measurement of the funds’ Level 3 securities are outlined inthe table below.

Mid Cap Stock FundFair Value

at 5-31-20 Valuation techniqueSignificant

unobservable inputs Input/Range*

Common stocks $ 1,121,302 Transaction Indicative ofValue

Prior/recent transactions $19.49

Preferred securities $ 2,426,231 Transaction Indicative ofValueOption Model

Prior/recent transactionsProbability weightingOPM - VolatilityDiscount

$12.5270.0%40.0%20.0%

20,417,581 Market Comparable EV to revenue multipleDiscount

1.32x - 1.81x (weighted average 1.55x)17.5%

2,503,869 Transaction Indicative ofValue

Prior/recent transactions $19.49

14,286,715 Market Comparable EV to revenue multipleDiscountOPM - Volatility

3.17x - 5.54x (weighted average 4.14x)25.0%

20.0% - 45.0% (weighted average 36.9%)84,762 Recovery Value Expected future value

Discount$0.3655.0%

$ 39,719,158

Total $40,840,460

* A weighted average is an average in which each input in the grouping is assigned a weighting before summing to a single average value. The weighting of the input is determinedbased on a security’s fair value as a percentage of the total fair value.

A change to unobservable inputs of the funds’ Level 3 securities as of May 31, 2020, could have resulted in changes to the fair value measurement, asfollows:

Significant Unobservable InputImpact to Valuation

if input had increasedImpact to Valuation

if input had decreased

Discount Decrease IncreaseEnterprise value (“EV”) to revenue multiple Increase DecreaseExpected future value Increase DecreaseOptions Pricing Method (OPM) - Volatility Variable VariablePrior/recent transactions Increase DecreaseProbability weighting Variable Variable

Investment in affiliated underlying funds. John Hancock Multi-Index Lifestyle Portfolios invest primarily in affiliated underlying funds that are managedby the Advisor and its affiliates. The funds do not invest in the affiliated underlying funds for the purpose of exercising management or control; however,the funds’ investment may represent a significant portion of each underlying funds’ net assets.

Information regarding the funds’ fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by thefunds, if any, is as follows:

125

Dividends and distributions

Affiliate

Endingshare

amountBeginning

valueCost of

purchases

Proceedsfrom shares

sold

Realizedgain

(loss)

Change inunrealized

appreciation(depreciation)

Incomedistributions

received

Capital gaindistributions

receivedEnding

value

Capital Appreciation FundJohn HancockCollateral Trust 6,236,222 $25,457,039 $534,260,976 $(497,346,762) $35,662 $28,267 $266,719 — $62,435,182Capital Appreciation Value FundJohn HancockCollateral Trust 175,654 — $141,521,311 $(139,769,594) $6,447 $434 $35,489 — $1,758,598Core Bond FundJohn HancockCollateral Trust 303,211 $1,019,314 $10,257,558 $(8,240,373) $(1,045) $207 $3,904 — $3,035,661High Yield FundJohn HancockCollateral Trust 39,454 $877,204 $21,031,575 $(21,508,538) $(5,324) $84 $18,216 — $395,001International Strategic Equity Allocation FundJohn HancockCollateral Trust 6,959,586 — $343,149,925 $(273,531,625) $(7,944) $66,935 $399,327 — $69,677,291International Value FundJohn HancockCollateral Trust 476,672 $937,826 $35,481,180 $(31,652,366) $5,711 $(51) $14,646 — $4,772,300Mid Cap Stock FundJohn HancockCollateral Trust 19,614,588 $26,551,791 $723,451,354 $(553,752,334) $3,846 $120,718 $1,285,236 — $196,375,375Mid Value FundJohn HancockCollateral Trust 9,787,175 $10,825,459 $349,794,822 $(262,665,542) $(5,835) $37,360 $166,578 — $97,986,264Multi-Index Lifestyle Aggressive PortfolioJohn HancockCollateral Trust — — $196,179,776 $(196,185,586) $5,810 — $24,073 — —StrategicEquityAllocation 20,946,735 $226,266,576 31,841,234 (24,414,377) (4,550,330) $(1,033,164) 5,177,603 $2,568,488 $228,109,939

$(4,544,520) $(1,033,164) $5,201,676 $2,568,488 $228,109,939Multi-Index Lifestyle Balanced PortfolioJohn HancockCollateral Trust 8,443,316 $53,581,782 $742,819,956 $(711,756,718) $(151,007) $37,929 $332,748 — $84,531,942StrategicEquityAllocation 31,544,684 343,540,970 46,803,331 (41,784,891) (6,098,931) 1,061,133 7,719,979 $3,829,702 343,521,612

$(6,249,938) $1,099,062 $8,052,727 $3,829,702 $428,053,554Multi-Index Lifestyle Conservative PortfolioJohn HancockCollateral Trust 560,031 $12,589,826 $193,773,437 $(200,739,245) $(28,235) $11,084 $111,972 — $5,606,867StrategicEquityAllocation 1,746,109 20,951,644 6,898,210 (8,785,252) (1,330,089) 1,280,611 436,120 $216,349 19,015,124

$(1,358,324) $1,291,695 $548,092 $216,349 $24,621,991Multi-Index Lifestyle Growth PortfolioJohn HancockCollateral Trust 534,675 $16,547,429 $521,645,441 $(532,851,031) $4,108 $7,059 $189,289 — $5,353,006StrategicEquityAllocation 39,503,649 434,224,242 46,830,496 (42,252,832) (7,181,368) (1,425,805) 9,856,695 $4,889,677 430,194,733

$(7,177,260) $(1,418,746) $10,045,984 $4,889,677 $435,547,739Multi-Index Lifestyle Moderate PortfolioJohn HancockCollateral Trust 583,343 $12,169,739 $302,570,637 $(308,909,502) $391 $8,993 $118,201 — $5,840,258StrategicEquityAllocation 5,803,831 66,838,092 13,821,099 (16,870,256) (2,429,013) 1,843,796 1,454,913 $721,748 63,203,718

$(2,428,622) $1,852,789 $1,573,114 $721,748 $69,043,976Real Estate Securities FundJohn HancockCollateral Trust 187,867 — $27,540,771 $(25,660,381) $(1,633) $2,116 $3,804 — $1,880,873

126

Dividends and distributions

Affiliate

Endingshare

amountBeginning

valueCost of

purchases

Proceedsfrom shares

sold

Realizedgain

(loss)

Change inunrealized

appreciation(depreciation)

Incomedistributions

received

Capital gaindistributions

receivedEnding

value

Science & Technology FundJohn HancockCollateral Trust 1,228,209 $9,739,733 $82,687,457 $(80,137,918) $941 $6,247 $51,240 — $12,296,460Strategic Equity Allocation FundJohn HancockCollateral Trust 17,307,324 $80,031,817 $993,671,078 $(900,579,176) $(35,599) $187,618 $1,604,699 — $173,275,738U.S. High Yield Bond FundJohn HancockCollateral Trust 694,972 $12,857,869 $58,598,181 $(64,497,661) $(7,263) $6,727 $91,496 — $6,957,853U.S. Sector Rotation FundJohn HancockCollateral Trust 539,665 $4,141,717 $32,613,748 $(31,355,943) $(466) $3,905 $43,063 — $5,402,961

Restricted securities. The funds may hold restricted securities which are restricted as to resale and the funds have limited rights to registration under theSecurities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve.The following table summarizes the restricted securities held at May 31, 2020:

Issuer,Description

Originalacquisition date

Acquisitioncost

Beginningshare

amountShares

purchasedShares

sold

Endingshare

amount

Value as apercentage of

net assetsEnding

value

Health Sciences FundAcerta Pharma BV, Class B 2-8-16 $146,475 4,892,850 — — 4,892,850 0.1% $463,842Doximity, Inc. 4-10-14 307,268 63,738 — — 63,738 0.2% 910,816JAND, Inc., Class A 4-23-15 194,538 16,938 — — 16,938 0.1% 330,174JAND, Inc., Series D 4-23-15 434,397 37,822 — — 37,822 0.2% 737,268

$2,442,100High Yield FundKCAD Holdings I, Ltd. 3-21-11 $6,150,520 752,218,031 — — 752,218,031 0.0%* $752MWO Holdings LLC 8-30-16 1,116,559 1,134 — — 1,134 0.0%* 65,851New Cotai, Inc., Class B 4-12-13 — 11 — — 11 0.0% —

$66,603Mid Cap Stock FundCoupang LLC 11-20-14 $4,300,618 2,300,670 — (919,221) 1,381,449 0.6% $10,830,560DraftKings, Inc. (Commonstock)

12-4-14 3,652,759 819,041 — — 819,041 1.8% 30,554,073

DraftKings, Inc. (Warrant) 12-4-14 13,933 4,973 — — 4,973 0.0%* 129,874Essence Group Holdings Corp. 5-1-14 5,083,384 2,958,957 — — 2,958,957 0.5% 9,587,021JAND, Inc., Class A 4-23-15 635,744 57,523 — — 57,523 0.1% 1,121,302JAND, Inc., Series D 4-23-15 1,419,614 128,449 — — 128,449 0.2% 2,503,869Lookout, Inc., Series F 7-31-14 4,276,874 392,767 — — 392,767 0.2% 2,769,007MarkLogic Corp., Series F 4-27-15 6,431,120 580,011 — — 580,011 0.4% 6,414,922The Honest Company, Inc.,Series C

8-20-14 3,966,620 142,030 — — 142,030 0.3% 4,611,714

The Honest Company, Inc.,Series D

8-3-15 490,560 12,795 — — 12,795 0.0%* 491,072

The We Company, Inc.,Series D1

12-8-14 3,335,927 184,328 — — 184,328 0.1% 1,292,139

The We Company, Inc.,Series D2

12-8-14 3,472,011 161,782 — — 161,782 0.1% 1,134,092

$71,439,645Science & Technology FundAirbnb, Inc., Series E 7-14-15 $1,526,562 16,398 — — 16,398 0.3% $901,890DiDi Chuxing, Inc. 10-19-15 460,705 16,798 — — 16,798 0.3% 684,435

$1,586,325* Less than 0.05%.

For additional information on the funds’ significant accounting policies and risks, please refer to the funds’ most recent semiannual or annual shareholderreport and prospectus.

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john hancock funds ii · 2020-06-02 · hong kong - 10.6% chong hing bank, ltd. (3.876% to 7-26-22,...

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